The primary market is also witnessing a sudden surge in IPOs after a long lull through the whole of 2018.
Statistically, similar such corrections in the past have taken around a month’s time to correct.
The market is likely to take its own sweet time till May to correct.
Dalal Street needs to align itself to these realities and is, therefore, heading for a correction.
The ground reality is different, as concerns over consumer slowdown continue to deepen.
By the close of the week, massive amount of profit booking was seen across the board.
Stocks will be in no hurry to move ahead. Corrections are bound to occur going ahead.
The market is oscillating near its 200, 100 and 50 EMAs, a rare phenomenon nowadays.
The sentiment is sluggish, which can be attributed to the feud between India and Pakistan.
The domestic equity market fell steadily everyday during the week in spite of positive global cues.
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