After the panic selling in yesterday’s afternoon trading was witnessed, there were numerous scenarios on how the markets open Today. A lower open followed by a huge selling or a gap down would have indicated the panic selling at the bottom. The flat open followed by bullish trading is currently creating a bullish Harami. This might show the end of the downtrend but will require bullish confirmation. But as required in yesterday’s trading, the bullish trading needs to be continuing going into the close. Any buying at these levels require nimbleness.
October 30th Daily Market Comments
After the panic selling in yesterday’s afternoon trading was witnessed, there were numerous scenarios on how the markets open Today. A lower open followed by a huge selling or a gap down would have indicated the panic selling at the bottom. The flat open followed by bullish trading is currently creating a bullish Harami. This might show the end of the downtrend but will require bullish confirmation. But as required in yesterday’s trading, the bullish trading needs to be continuing going into the close. Any buying at these levels require nimbleness.