Market has once again shown, who is the boss, who is the smartest. It has done what it does best, make us part with our hard-earned money.
Market has fallen in the oversold category. Technically an oversold bounce is due which could come tomorrow. Market has so far wiped out all gains made in last 12 months. If you have not been cashing on the highs of the market, you are a net loser, doesn’t matter whether you invested in bulk any time during last 12 months or invested in SIP. Sounds scary. Yes, it is very scary. Market is sinking, people are running for cover. There is no place to hide.
Anyone who has not bought in to this crash can never hope to recover from the folly of having initially invested at highs. You could be the one who invested at 9000 NIFTY, staring at a loss of 15%. You have to pare this loss by putting more money in the market.
I have not spoken to or met anyone who has invested during the last 3 trading days. Sounds funny as I have screamed from top that this is the time to buy.
All kinds of theories are surfacing turning China into a villain responsible for this mess. Market in China has been going down last 2 months and why did the market take notice now. There is nothing new in the world that has happened as far as I see. Markets had run up quite high in recent weeks and the correction was very much due. People in China are still sitting on 30% profit for the year and Indian market has wiped out all gains for last one year. Who is the villain, China or people who are responsible for running India economy. Arun Jaitley Ji is now talking about removing retrospective MAT, pleading the RBI governor to cut rates. Sir, it took a market crash to talk about correcting things which should have been done in a regular routine. Why do we all need a shock to wake up from our slumber.