Nifty Today: “Winds of Change” - 24 Feb’22


Nifty View: A very big breakdown for the Nifty index in today's trading session as it lost over 800 points to post a close at 16,247. It was a big gap down, and throughout the day's trade, the index did not offer any significant signs of recovery. Needless to say, a majority of the stocks and sectors closed deep in the red territory losing anything between 5-10%. The immediate and intermediate trends were anyways down for quite some time, and with today's fall, it is the long-term trend that is under threat for a reversal. Strategically, these are not the best of times for a short-term trader; keeping in mind the recent spike in volatility and from now on also, a higher degree of volatility is likely to persist. Focus more on capital protection rather than chasing stocks and returns, and it is a prudent idea to wait for the dust to settle before you start trading aggressively again, especially on the long side.

Thank you for following my work and please feel free to share your thoughts and suggestions.      
 
Trade Well. Trade Wise.