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TECHNICAL ANALYSIS New Batch will start from 24th April 2018. For more info call 9820526455.
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TECHNICAL ANALYSIS Course starts 24th April 2018 at Sion. For more info call 9820526455.
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Weekly analysis : BLACK FRIDAY REVISITED - 21/09/2018.

BLACK FRIDAY REVISITED - 21/09/2018.

 

NBFCs CRACK, MARKET HITS PANIC MODE.

 

There was no respite for the Bulls as each passing day brought more and more bearishness. On Friday, the ongoing crisis at IL&FS created a panic across NBFCs especially DHFL and IndiaBulls Housing Finance which cracked by around 60% and 30% respectively before recovering partially, despite the Management denying any liquidity crisis to meet any loan obligations. As a result the markets cracked and Sensex saw an intraday fall of around 1500 points and Nifty around 500 points before staging a smart recovery. But the key question remains have we made a bottom? The answer is NO. The long lower shadow on Friday shows some brave Bulls having bought at lower levels but that cannot certify a bottom creation. Friday saw a Panic Bottom being created but usually a Panic bottom is retested and which looks likely even this time. After witnessing some relief, the Nifty is likely to test 10748-10643.

 

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