6% drop in Nifty is a buying opportunity
Few followers panicked when the Nifty had a sudden drop of 6-8% within the day and caused panic and some of the late buyers were caught off guard or get margin calls............
I had said before, when you buy an index , it is a basket of blue chips companies in the respective country represented by different sectors. So , you got margin of safety in terms of sectoral diversification. Unless the entire market crash , then from a weekly, daily chart perspective, it is still riding on a bullish trend.
You can see how quickly it falls through the channel and yesterday, it has recovered more than 60-70% of the previous fall. So, I don't understand, what is the panic all about ?
As a trend follower, there is nothing to do except ride the trend until it changes.......
I had said before, when you buy an index , it is a basket of blue chips companies in the respective country represented by different sectors. So , you got margin of safety in terms of sectoral diversification. Unless the entire market crash , then from a weekly, daily chart perspective, it is still riding on a bullish trend.
You can see how quickly it falls through the channel and yesterday, it has recovered more than 60-70% of the previous fall. So, I don't understand, what is the panic all about ?
As a trend follower, there is nothing to do except ride the trend until it changes.......
Note
Praise God, congrats to those who went LONG at 22,000 price level.......
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.