Sensex ends the day down 291 points

The major indices ended the day down over 1.5 percent for the day which also saw the option expiry. The markets have a way of making the technicals come true sooner or later and this fall is in line with the general technical trend of the past few sessions.

The 30-share BSE index Sensex was down 290.87 points (1.52 per cent) at 18,861.54 and the 50-share NSE index Nifty was down 103.85 points (1.79 per cent)at 5,693.05.

We can try find reasons for what a market does but honestly it is plain speculation, the charts speak for themselves. Hopefully you took the Nifty straddle suggested, that has given a fairly decent return over 2 days.

The market has weakened quite a bit and we should see further fall in the days to come. Watch out for some more trading ideas over the coming days.

Markets have a bad day – Sensex down 300+

The markets had a bad day today.It was downwards all the way. Not really surprising given that the charts have been showing signs of weakness over the past few sessions. What was surprising was the intensity of the fall, with the Sensex falling over 300 points to a three month low.

The railway budget did not help with the freight hike and to top it we had the European debt crisis raising its head again. Another point to note is we are approaching the budget with a capital B and the expiry, so you can expect volatility the next 2 days for sure.

The best way to play out this market would be a long straddle on the Nifty, ideally at the money. Let us know how this trade goes for you, good luck!