What a crazy month that was. We sort of got caught in a loop this month. Two steps forward and two steps back, right back to square one with 0% movement in the index.
The month actually began with an up move giving us long-awaited hopes. Happiness though was short-lived as things took a turn for much worse as we crossed over to the wrong side of the 200 DMA.
SVB bank news had created a worldwide panic, the future looked bleak as the markets tanked. Fortunately, multiple financial bodies soon dispelled the myths of systemic failure. The markets were left directionless again.
Anticipation was at its peak, with no movement observed until the very end for the month. Had March been negative, it would have been a very rare instance of four consecutive red months.
Except, everything changed with a splendid two-day recovery driven by significant buying action from FIIs and DIIs, restoring confidence in the markets.
NightCrawler, High Five, Alpha Ally and Nifty Rider gained despite the zero net movement in the market, High-Five stole the show with a solid 6.45% in the green. Quick Short took some downtime along with BackUp, and the remaining models also closed in red, but mostly in decimal values.
Let's hope April carries forward the up move, which saved March.
Enjoy the watermelon season, and have a great summer. We will see you back this Friday.