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Indian equities experienced a significant downturn as the Nifty 500 index dropped 3 percent in trading today.
Afzal Lokhandwala noted that the market has fallen for 20 consecutive days, describing the decline as fast, hard, and relentless. He reported having no open long trades or positions currently held. Lokhandwala emphasized a sense of clarity amid the market turbulence.
Lokhandwala's response to the rapid sell-off aligns with his prior observations on how trader anxiety amplifies volatility when monitoring indicators such as oil prices to anticipate NIFTY movements, as explored in his analysis of the relationship between oil and NIFTY trends. His perspective on decisive action amid relentless market conditions recalls the conviction seen during major stock surges, most notably when Yangtze Optical Fibre posted a dramatic rally following his buy-in.