The Market is actully driven not just by the Technical/traders ...The sentiments and rumours are very much vital and that many time changes the direction of the ongoing market..The Statebank is going to merge all its associate companies.This is what the actual news came out and that drove the whole scenario of the market.
Today morning opening onwards, the market was struggulling to move up...in 9540.00 level and certainly it shoot up to 9600 + levels and there on to the day peak of 9736.00.The day low was 9500.00.(Low to high is > 236 points)...
I don't know how many traders were caught in the hold of the devil and lost huge money today !!...i feel really sorry for them. i am sure many would have...During the closing why the market fell from the peak 9710.00 to 9560.00 level ...that too it happened less than 20 minutes..? What kind of weakness is seen certainly in the market?
As i used to say,...as if some one who holds the consoles of the market and push the button here and there as per the mood or whatever..and the market instantly raise upto 200 +points and fall down to 200- points..No logic is'n it ? ..This is what the spirit of the ultimate gambling.