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AS WE PREDICTED NIFTY HOLDS 8000 AMID PRESSURE SENSEX BELOW 27000 AMID PRESSURE
AS WE PREDICTED NIFTY HOLDS 8000 AMID PRESSURE SENSEX BELOW 27000 AMID PRESSURE
Market opened with a
negative bias and later in the first half it made a high at 8122, but due to
sustained selling by investors and weak rupee; Nifty reversed its direction and
made a low at 7997 and finally it closed at 8057 down by around 0.49%.Nifty has broken the support levels of 8093
and made low of 8022.Today nifty has hit our target of 8100 and almost hit
second target of 8000 and made a low of 8022. A stock market
correction, technically speaking, occurs any time a major benchmark index loses
at least 10% of its value. When an index suffers losses of 20% or
more, it earns the right to be called a “bear market.” On
average, stock market corrections occur every 1.5 years, while bear
markets occur about every nine years.