As written in the previous post, october did indeed fall. However the fall wasnt as sharp as anticipated. Infact if at all it was very difficult making money inspite of getting the direction right. As each time shorting was done, there was a huge counter move to wipe out any stoploss put. Finally however for the last 2 days the shorting worked and markets obliged after a long long long time with some decent correction.
Now the markets might be entering a corrective phase, however how long does it last is anybodys guess. Now from now on if we see a 100+ point rally that might be the end of the bearish move. Even today with all the negative the FII's didnt net sell anything. It was the DII that have been huge net sellers.
I would now keenly watch the market to start its upmove after this current downtrend is over. And the indicator to that would be the huge rebound, which may occur soon. Though a point of note is that this curernt downmove might take us to 5600 or it might end at 6000, that is anybodys guess. Till then happy trading.
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