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      Are markets reversing?

      Samir Gilani / Mumbai, Feb 24, 2015 10:19 AM IST

        Are markets reversing?

        Market seems to be precariously poised for some action both - technically and fundamentally. Fundamentally - as we are in the crucial Budget week, which can set the tone for the near term trend, and technically this is how...

        Yesterday was a trend down day and it was apparent in the first 10 minutes itself. The markets (Nifty Futures) opened at 8,945 which also was the high of the day and trended down closing near the lows of the day. I think it's self-explanatory that the bears were dominating.

        The interesting point is that every time we have corrected, we have rebounded back strongly making a new high.

        In September we corrected 5 per cent but then rallied hard to make a new high in early December. Similarly correction in December was followed by a new high made in January 2015.

        Again in February we corrected another 5 per cent and since then attempted to rally. However this time around the markets have struggled to make a new high.

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