Nifty Today: “Winds of Change” - 24 Feb’22

24. Feb. 2022


Nifty View: A very big breakdown for the Nifty index in today's trading session as it lost over 800 points to post a close at 16,247. It was a big gap down, and throughout the day's trade, the index did not offer any significant signs of recovery. Needless to say, a majority of the stocks and sectors closed deep in the red territory losing anything between 5-10%. The immediate and intermediate trends were anyways down for quite some time, and with today's fall, it is the long-term trend that is under threat for a reversal. Strategically, these are not the best of times for a short-term trader; keeping in mind the recent spike in volatility and from now on also, a higher degree of volatility is likely to persist. Focus more on capital protection rather than chasing stocks and returns, and it is a prudent idea to wait for the dust to settle before you start trading aggressively again, especially on the long side.

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