Short-term trend negative

The short-term trend bounced from support at 9,450 in late June

Devangshu Datta 

The market cracked on Tuesday, reacting upon triggers of global weakness and the release of a list of shell companies by the Securities and Exchange Board of India (Sebi).  The dip was accompanied by a noticeable spike in the VIX and by several other bearish signals. This follows on the heels of a credit policy that disappointed the market.   Corporate results continue to be more or less in line with consensus — expectations were not very high. Foreign portfolio investors (FPIs) have sold equity through August though they have continued to buy debt. Mutual funds, domestic ...

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