This time, PCR plunge may signal new highs

However, the very lack of conviction among the sellers is being viewed as a contrarian indicator by technical analysts such as Rohit Srivastava of IndiaCharts and Hormuz Maloo of AFco Investments, who believe markets correct amid the predominance of greed, rather than fear. “It’s amid unbridled greed, not fear, that a correction looms,” said Srivastava. “I see the market moving to fresh highs, rather than the other way around.”

via Economictimes