The Nifty seems to be up 3% today as it opens post Dussehra, when world markets rejoice the lack of bad news. (That, nowadays, is a good thing)
How many times has the Nifty closed up 3% from its previous close? The Capital Mind Chart Of The Day reveals the plot.
The last 3% move was, incidentally, on August 29, the day after we hit the recent low of 4741. On Wednesday we came close to it, closing at 4751. A double bottom? Oh, time will have to tell.
And today isn’t a 3% day till the day is over, or like the infamous Sidhu says, till the fat lady sings.