Because we fell harder, the bounce had to be sharp too. Study past 30%+ corrections & you'll see markets have bounced 50% or more almost immediately. And, that 50% level we hit this Thursday.— Manas Arora (@iManasArora) May 2, 2020
But, hang-on. We don't go short because it has reached here. Need more evidence.
The final nail in the coffin was this gap up opening. Gaps, this late in the rallies, are 'exhaustion gaps'. They usually signify final attempt to hit the highs by late-comers who don't want to miss the on-going party.— Manas Arora (@iManasArora) May 2, 2020
SGX Nifty closed around 9200 yesterday after my short position at 9850 on the last working day of the week.— Manas Arora (@iManasArora) May 2, 2020
I hope you may learn a thing or two from this.#Brotip