Festival mood in markets with liquidity driving uptrend
In the last three to four weeks, one finds that a single day’s movement, whether upward or downward, makes the trend or direction of the whole week.
In the last three to four weeks, one finds that a single day’s movement, whether upward or downward, makes the trend or direction of the whole week.
Markets lost on the first four days of the week and extended losses for five consecutive days before a complete turnaround happened on Friday, which was the first day of the August futures series.
BSESENSEX lost 1,449.08 points or 1.92 per cent to close at 73,961.31 points, while NIFTY lost 426.40 points or 1.86 per cent to close at 22,530.70 points.
Markets had a crazy week and were under pressure throughout. They fell on expected lines and this time, we could not blame the US markets as they gained on all five trading sessions.
Markets in the week gone by were driven by fear, war-mongering and panic. Of course, all of this leads to extreme volatility and sharp two-sided moves.
The week gone by consisted of five trading sessions and markets gained on three of the five sessions.
It was an extremely volatile week in which one saw intraday gains being wiped out as well as opening losses being more than recovered.
Markets were on a smooth course during the last week until a tsunami hit them on Wednesday. Even two trading sessions later what happened on that day remains a mystery.
The Diwali week continued bringing good tidings for investors and Dalal Street even after ‘Muhurat’ trading on Sunday the 12th of November.
