Market Monitor

• The dip buyers tried hard, very hard yesterday to put a meaningful rally together. Each attempt was followed by selling.
• Numbers speak for themselves. Look at 65 days number, they continue to deteriorate. They are at 652/441 levels compared to 912/292 level and show no sign of stabilization as of now.
• When enough selling happens and the month 50% plus figures start heading towards 5 then might be time to look at few buy opportunities.
• All market tracking systems should be looked at as a part of larger trading framework. If your trade timings are in minutes, your perspective is different. But Market Monitor is primarily for intermediate term trading. The dip buyers in intra day frameworks are small moves chasers, looking for .2 and .3% moves, you should not get affected by their interpretations on market.
• Volatile market conditions will continue and many of the breakouts will retrace, so I see not much point in chasing any breakouts at this stage. Things will change if I see 300 plus day on long side.