We're not seeing capitulation. We are likely to see dip buying. There is no real panic in this market. So this is unlikely to be ultimate bottom. A sheer panic kind of action is buyable. This action is not panicky. Again and again buyers in this market have jumped to buy weakness. So a reflex bounce is a possibility here. The pain might continue longer in absence of more fear and panic.
1 comment:
I thought we had a 97% down day yesterday across all exchanges. VIX picked up and edged higher in quite many years. Volume surged. Would you still not view yesterday's action as panic?
Thanks
Post a Comment