The flower of optimism wilted on Dalal Street on Friday as Wipro hit its lowest level in more than two years.
The benchmark S&P BSE Sensex shed 54 points to end the day at 27,782. The 50-share gauge Nifty50 closed at 8,572, lower by 19 points.
Shares of Wipro tumbled to their two-year low during the session. The stock plunged another 3 percent after a 3 percent decline seen on Thursday. The company had posted weaker-than-expected numbers for June quarter and investors see it wilting under the pressure that the IT giants are facing this year.
We have seen a lot of articles on the Golden Cross on various media.
Let us quickly look at how the Nifty movements have been in the last 10-12 years post the Golden Cross.
Conclusion – It’s a very late indicator but may sometimes give real long-term trend changes. Tough to use it as a decision system. The whipsaws hurt real bad. I would rather prefer looking at price patterns.
This is a quick video. Do put in your comments. Maybe next time would try to put it on Dow Jones / S&P 500
One can understand the obsession for Day Trading by just doing a Search on Google for the Words like – Day Trading, Intraday Trading Tips, Day Trading Tips and the number of sites that pop up catering to it.
BSE, an exchange in India, mentions itself to be the fastest exchange in the world.
Nifty 50 index is world’s most actively traded derivatives contract: Survey – Link
Majority of brokers have 90 – 96% of their business coming from Derivatives
There are a bunch of Discount Brokers with Rs. 0-20 as broking change.
The original article appears on www.rakesh-jhunjhunwala.in and is available here.
Time To Be Cautious & Raise Cash As Market Crash Is Imminent: Technical Analysis Expert
Nooresh Merani, a leading technical analysis expert, has issued a warning that the steep rally in stock prices is on the verge of reversing into a steep crash. He advises that we should exercise caution and take some money off the table so that we will have better buying power when the crash does come.
Common sense tells us that whenever there is a steep rally or a steep crash, there is always a reversal at some stage.
During the past two weeks we highlighted some posts where investors could potentially have made money. But is that the sole purpose of StockArchitect? A resounding NO!!! We believe we offer a lot more than just that.
We also offer views of leading analysts. We have pulled some posts from the past week which inform you of what experts think. Our only purpose is to help investors make informed investment decisions. After all it is your hard earned money.