1. The main reason for downward streak of Sensex and Nifty was due to gloom spread in Asian and European markets related to US Fed's announcement which stated that further interest rate cuts may not be feasible.
2. Moreover the estimates for US growth have been revised towards the lower side and as a result the negative sentiment related to US kept the markets to include Asian and European markets depressed.
3. Thus we see that we are not isolated and are affected by world events and thus as a precaution we can close our long trades as downward risk is higher and one must sit aside the market if Nifty breaks 5000 level.
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Why Today Sensex closed in Red?
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