Signs of a deep correction..
In the last couple of days, the sensex is swinging like crazy. The highly volataile market might have wiped off quite a few 'day traders'. When the market goes 50 pts up/down within an hour after opening, it definitely incites optimism in 'day traders' to go 'Long'/ 'short'. But the markets are ending the day on the other side, by a huge margin.
Sensex saw similar swings in the last two Quarters as the results time approached. Lost more than 10% in October Correction And bounced back. That correction really scared me. In January, I exited ONGC(:() before the quarter results were announced. There were a few volatile sessions but there wasn't any deep correction.
Another Quarter ends and market is awaiting the results. Despite the bad experience of exiting ONGC at the wrong time, i sold my RIL, RCoVL, Upper Ganges stocks. And anxiously waiting for the results and hoping for a Deep correction. :)
Sensex saw similar swings in the last two Quarters as the results time approached. Lost more than 10% in October Correction And bounced back. That correction really scared me. In January, I exited ONGC(:() before the quarter results were announced. There were a few volatile sessions but there wasn't any deep correction.
Another Quarter ends and market is awaiting the results. Despite the bad experience of exiting ONGC at the wrong time, i sold my RIL, RCoVL, Upper Ganges stocks. And anxiously waiting for the results and hoping for a Deep correction. :)
posted by Suresh Maridi at 4:21 AM
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