Yes another of those inexplicable movement today.
Today the t sensex opened @ 19360 and till 11 30 went steadily up by 250 points to 19610 the in 30 minutes between 11. 30 and 12 noon the market crashed to 19260 and by the end of the day closed at 19091.
So between High of 19610 and the close of 19091 - a total 519 point change
The market is very volatile - and is not easy to get a entry point for profitable trading. Once some kind of trend is established then only it would be right to really trade in this market. Otherwise its too risky.
IFCI posted the result today - around 3% lower YoY. This had negative impact on all the Banking stocks .
But after the close of the market session today HDFCBANK has announced a fantastic earnings - q4 net up by 33% @ 1115 crores. This beats the estimate by a very large margin . But HDFCBANK had closed today @ 2311 down 2.2%. So there should be plenty of shorts getting covered tomorrow.
This result may lead to other Banking stock prices to go up - hopefully.
So can expect the market to trade up tomorrow - atleast the first one hour ???
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