A visit to market
With the conclusion of the US elections, most of the noteworthy events for the current year 2024 are over. Though some traders may be looking forward to 23 rd November (Assembly election results), 6 th December (RBI’s MPC policy statement) and 18 th December (FOMC policy statement), these events are not expected to make any material change in the market sentiments. · In the absence of any foreseeable major event, the markets are in maintenance mode for the past couple of weeks. · Benchmark indices are consolidating in a narrow range, just keeping the day traders busy. · Broader markets are carrying out the process of clearance: the stocks that crossed the red line and strayed into bubble territory are being punished and dragged back to their right place. · The stocks that have been u...