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“The so-called priced-on vision or priced-on transformation kind of stories have to be avoided by the retail investors. Maybe the smarter money will get in and extract their pound of flesh but this is more like the meme stock mania that we are seeing on the US markets with bankrupt companies getting bid up, says Ajay Bagga.”

FLFL has in-house retail chains Central and Brand Factory, exclusive brand outlets (EBOs) and other multi-brand outlets (nearly a dozen apparel labels, including Lee Copper, Champion, aLL, Indigo Nation, Giovani, John Miller, Scullers, Converse and Urbana) in its portfolio.

The formation of such a candle with a long lower shadow near a pattern resistance increases the possibility of the up move getting stalled for some more time and the markets staying under consolidation a bit longer.

“For Reliance, I would believe that the stock has this tendency of going into a time-wise, price-wise correction - Consolidation with no major upswings.”

“We had a spectacular run in the auto space and there is a lot of steam still left the way we look at the numbers coming, the monthly numbers as well as the quarterly numbers of most of the auto companies were quite strong.”

“The Nifty Bank reached the overbought zone earlier than Nifty50 during the fall April to June 2022. The overbought situation caused buying in the banking and financial services sector. Hence, we witnessed Nifty Bank becoming stronger than Nifty50.”

The S&P has been in a bear market since plummeting early this year as investors priced in the expectation of aggressive Federal Reserve interest rate hikes, but the index has rallied strongly since June, regaining half its losses for the year.

It also helps them recognise a bad decision, which can pave the way to make suitable amends. In the stock markets, humility helps one recover from a bad investment and recoup the loss by finding an alternate investment.

To my mind, buyer beware applies to social media ads and messages as well. Stock market investment is no shortcut to making money and warrants due diligence.It pays to be associated with authentic brokerage houses and join their official WhatsApp handles and Telegram groups, where they share information that leads to intelligent decision-making backed by research.

In the BSE500 index, 290 stocks settled in green, whereas others posted losses for the week. About 15 stocks were able to rise 10 per cent or more, whereas only three stocks logged double digit cuts.