In a post on the social media platform X ( formerly Twitter), ace Investor Ashish Kacholia described the market fall on October 26 as a "kind of bear market doomsday" which saw him receive panicked calls from friends with the question of "market kyun gir raha hain? ( Why is the market falling).
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On October 26, at close, Nifty had fallen by 264.90 points or 1.39 percent to 18,857.25, even the Sensex plunged 1.41 percent or 900.91 points to 63,148.15.
Sharing his opinions on X, Kacholia described the Bull market corrections as "short. sharp and vicious" and even enough to shake investor confidence, forcing them to liquidate all their "less-conviction holdings. He, however, added that this was just the nature of the market. On a query about whether this "short correction" would be a few days, months or weeks, Kacholia responded that it would be difficult to predict.
Also read: As Nifty falls in the sinkhole, the trap is getting wider for Put writers
Many other X users ( investors and experts) also weighed into the post, agreeing that this was not the end of the bull market but rather a correction in the bull market itself. Describing investing as a game of patience, one X user responded saying that this was ultimately a test for investors, "those who can bear ( the pain of the fall) will survive, else will change the path and move out forever".
Also read: Taking Stock: Sensex plunges 901 points, extending losses to sixth session
While most users agreed with Kacholia, one X user said that its has never been a bull market. "Bear Market rallies are always look like bull market. Indian retail investors always get caught on wrong side. Bull market ended in 2021."
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