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“One should take a call and look at a few midcap IT companies like both L&T twins which have corrected almost 20 per cent from their peaks,” said Rahul Shah.

Richard Demille Wyckoff was a pioneer in studying the stock market using technical analysis in the early 20th-century and is regarded as one of the five “gurus” of technical analysis, along with Dow, Gann, Elliott and Merrill.

​Gold came under pressure as US real bond yield turned positive for the first time in over two years as Fed officials raised the prospect of faster rate hikes to get inflation under control.

The IPO may get delayed to the market volatility caused by the Russia-Ukraine conflict. Being the largest life insurance company in India and the fifth-largest globally, LIC’s listing on bourses is set to change many things in the Indian capital market.

​Hawkish pronouncements by Jerome Powell’s Fed have set the table for a half-point hike at the central bank’s May meeting, with chances for three more now priced into money markets. Rates on 10-year Treasuries have jumped by more than 50 basis points this month to 2.9%, a rate of increase that Goldman Sachs strategists say usually causes distress in stocks.

There is however a storm, perhaps even a gale, brewing on the horizon, global financial advisory firm Elara Capital says. “India flows have been deteriorating since last few months but we could finally see the momentum turning negative,” the firm said.

A number of technical indicators suggest that the pain is not yet over, says Gaurav Ratnaparkhi- Head of Technical Research at Sharekhan by BNP Paribas.

The reason trading is so glamorous is not just because there is a possibility of making a lot of money but also it is the place where one has to face their worst fears which is emotions, says Ashish Kyal.

Investors poured $19.8 billion into hedge funds in the first quarter, the biggest inflow of money since the second quarter of 2015, lured by gains some funds are posting amid volatile markets, according to data provider HFR.

The kick start of the result season failed to appease market sentiments as most of the positives even on the earnings front are completely priced in the current valuations. What is being observed is that stock price reactions are magnified for every hit or miss vis-a-vis market expectations.