Jai Bala IT is also on tenterhooks, as it should be. Nifty IT We cannot afford to get any lower than it is right now. So Many sectors are trying for a break. 29300 was an important level, and the IT Index is 29,200. Multiple At this point, sectors are in disarray.
What How do you understand today’s market? How How bad can it get? Do Are you worried that bad could get worse or more ugly before it stabilizes itself?
YesThis market is in the acceleration phase of its decline. The Point of recognition for many investors is around 16,750. September low. Once That is broken. Only then people will begin to understand what I have been saying over the past several months. As I said. This Accelerator decline phase is now underway We You have a lot more to do with the down side.
What Is this what you believe will bring about this downfall? Reliance Together with the Infosys, ICICI Bank The HDFC The index is almost 100 points lower because of twins.
YesBanks are now at one of these short-term crisis points. It Scored in the 5,000-point zone. I said last time that you should not be deceived by the lackluster break Budget Day low TodayThe banking index is close to it. Reliance Is having a new breakdown below February low. The February Low was 2,290 So We will have RelianceBanks and IT are the main culprits of the fall.
IT is on tenterhooks. Nifty IT can’t afford to move below the current level. So Multiple sectors are looking for a new break. 29300 was an important number and, as I see it now, the IT Index is 29,200. Multiple At this point, sectors are in disarray. If We have a close at those levels. RelianceBanks and IT could lead the way down.
What What should investors do next? Cut Take a break from all the long positions and get out!
YesThat is definitely a strategy. Use Relief rallies There It is possible that there may be a very small chance Nifty It is possible to bounce back to close to 17,600 If That was to come? Use it to get out. And It is important to raise cash. If You can afford to make some dollar investments. The The dollar will likely strengthen in the future.
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