Weekly Market Recap

In yet, another volatile week the price remained side-ways amid wild oscillation on either side. On Tuesday, market started-off in red and closed down significantly by losing approximately 2% in single day, rest of week was spend to recover the one day loss while remained volatile.

In the week gone by, the SENSEX closed down by 351 points, or .94% at 36981, similarly, NIFTY closed down by 77 points, or .7% at 10946.

Current Outlook

The way NIFTY closed down on Tuesday had left an impression of further downfall in coming days, however, the market stalled there and rescue operation continued for rest of the week. NIFTY cannot recovered fully and still 77 points down from previous week closing. No particular sector has contributed much on recovery, there were loser and winner within the sectors, although auto stocks seems to have bounced-off from their week lows and rallied on Friday, perhaps on the back of short covering. Technically, NIFTY appears to be side-ways to me with negative biased, unless NIFTY crossed above 11100 downside target could be bigger. After Tuesday fall, the sentiments became quite negative that acted as a cushion for the market and became a reason of recovery. In last 1 years the sellers have been acting very smartly they halt the selling when pessimism grows and resurfaced themselves on positive news. As Government announced few measures to support (rather I used the word boost) the economy in last two weeks and we have witnessed heavy selling thereafter at higher levels except one or two positive days.

That’s why I called them a smart money or market markers. Money making is not easy in bear market as both short and long get trapped easily. Besides analysing and monitoring the market you need to be patient enough and follow your investing or trading model with discipline. Like I wrote last week, more volatile sessions are indicating that we are heading towards a bear market. Hence, outlook keep deteriorating week after week.

Conclusion

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Keep Learning..!; Be a Savvy Investor..!!

Pankaj