We are with in sniffing distance of breaking the 7500 barrier. Market has sunk. It is totally in the bear grip. All this talk about India having a stable government after 2 decades coupled with India saving billions of dollars on oil imports has disappeared in thin air.
People who trade are weeping secretly.
7200 is going to be the straw that will break the backs of many people and some of them highly qualified and trained. People playing on margins will most likely default at this point. Brokers are going to jump from the roofs.
We are thinking of marching from India Gate to North Block wearing just undies with placards in our hands, “This is what we are left with. You want to take this away too.”
Any one who trusted in NDA Governance has come to realize that ills of this country will take many years to go away. We are still a country with FII(s) by selling few billion dollars worth of stock can crash the market.
All this is fine. One thing that still confuses me is that, “Why sell at discount?” If you want to run away, create a false euphoria, get people to pick up the stocks are higher prices and then leave.
Most of the stocks are at 35% below their 52 weeks high with a few of them at 50% low. They are at a bargain and as usual many people are waiting for another decline before jumping in.
Guys, this is the time to go on stock picking, bulk up your portfolios. Don’t tell me, you have no money left. If you can’t buy on every dip and sell on every rise, it makes little sense to be in this market.