The week gone by ended with a huge red candle erasing gains from the start of the week. This is seen as a correction, as the short term trend for the market has turned down.
Retail investors have always been known for bottom-fishing in the hope of getting outrageous returns in a very short period.
Investors should watch out for the US’ second stimulus package. This move is expected to lift the overall sentiment of the US market and, in turn, markets across the globe.
Retail turnover has increased to about 57 percent of the average cash volumes on the exchanges in the first quarter FY21 while daily deliveries have seen a dip.
It is expected that domestic cues may not have any major impact going ahead for the next few weeks and global signals may dictate the behavior of domestic bourses.