last one month low before the recent melt was 508.50. looking forward to that being broken today so we look bullish in the recovery stance.
buying the dips certainly helped. some sanity had to come back in the markets. markets needed an excuse to correct and it is done. china stimulus was overplayed and it was nothing significant in reality. now jupiter has to climb back to trading above 50dma.
As alluded two days ago. Increase in volume is generally a good thing as that brings visibility to the stock. One should not read into the direction on that day. The next two days and the rate of recovery is for everyone to see.
Good closing. Closed above 200DMA. Now looking forward for a close above 505.
it should have held above 487 which is the actual 200dma but unfortunately it fell from there a bit. hope it closes above that level today.
hope everyone bought the dips as i have been everyday. as much as i could. brick by brick. mouth watering levels.
it is not about the price going up or down. volumes is what brings interest back in the stock. when there is no interest generally the stock falls. today you will see a dip and a square off rise. but volumes going up is a sign of improved visibility.
there is absolutely nothing that china has done in the form of stimulus as of now. they may do it later. they have reduced the deposit for second home purchases, reduced the crr of banks and reduced short term lending rates. apart from that they gave some money to the poorest of poor to spend during holidays. everyone anticipates a china stimulus, nothings has happened yet. israel will not target iranian nuclear installations either. rbi will change rates stance but would not cut this time. so it is all status quo.
price is decreasing n volumes are increasing almost in every stock same situation today.... global cues are not good n bjp is loosing in elections....
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