And markets puke on this news + war news adding more fuel
Have the markets given a decisive breakdown? What is your take and what are the levels in nifty, bank nifty and stocks that you are looking at in this correction?
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Shorts are usually tougher in higher timeframes in stocks as buy the dips guys start to come in.
Still, small and midcaps seem ripe for some pressure now after climactic swing in sept and 2 pretty spectacular down days. Intraday shorts this year are working better for me vs last year or two - finally. We still usually have very quite days often and its rare to see days like today. I think we are due some volatility expansion now, this year or hopefully by next year. So many people selling options - gotta be tested.
Anyway, after a strong move, one way to get a feel for the market is to wait and see how it bounces. A reluctant bounce that is slow and/or unable to cancel out more than say 50-60% of the down move might indicate that we could go for a retest. If this impulse has not ended, then we could see small bits of buying getting immediately rejected. Does not happen much these days.
There’s no noise from bears. We don’t have them here on TradingQnA? 
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This is getting serious. 
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