07 Jun 2024 - reclaiming ATHs, saying no to SCAM accuasations
The most viral stock market news topic is the accusation that Rahul Gandhi made on HM and FM for their speech asking people to buy stocks for June 4th. Everything would have gone well if we did not have the 8.75% crash on 4th June, because the markets did have a beautiful run up till then.
The SCAM accusation would have really made sense if we did not have the recovery on 5th, 6th and 7th, because as it stands now the markets are literally up by 3.2% as of 31st May close. I do not know if this follow up buying is actually scam version 2 or not, or is it genuine buying after markets got enough confidence from Modi 3.0.
Even if someone bought nifty50 stocks on 03 June and if they did not sell, they are relatively flat as on 7th June - even after the violent swings.
Technically we are still maintaining the bullish stance till proven wrong.
The SCAM accusation would have really made sense if we did not have the recovery on 5th, 6th and 7th, because as it stands now the markets are literally up by 3.2% as of 31st May close. I do not know if this follow up buying is actually scam version 2 or not, or is it genuine buying after markets got enough confidence from Modi 3.0.
Even if someone bought nifty50 stocks on 03 June and if they did not sell, they are relatively flat as on 7th June - even after the violent swings.
Technically we are still maintaining the bullish stance till proven wrong.