Nifty gets strong buying when it falls to P/E 15. A revisit to P/E 17 is possible based on the P/E chart (blue), which would correspond to about 5750 on Nifty Index price, which would also re-test the 200 DMA at 5850. Markets are moving rapidly between optimism and pessimism.
Indian Stock Markets saw massive selling by nervous investors offloading delivery stocks, and trading stop loss triggers in the Futures and Options segment. Today’s total trading volume was a new life time high for Nifty. Nifty fell 3.3% on Huge Selling by FIIs, and though the DIIs tried to buy as much as they could, the number of sellers were 3 times more and the selling pressure was unstoppable till the end. Continue reading Indian Stock Market: Nifty falls 3.3% on Huge Selling by FIIs