New Delhi, Sept. 7 -- Ticker is a weekly newsletter by Vijay L. Bhambwani. Subscribe to Mint's newsletters to get them directly in your email inbox.

Last week I wrote that retail bulls were exhibiting signs of recklessness. They continued to show signs of averaging their losing positions read about it here. However this buying proved inadequate as the bullish opening of the week failed to sustain at higher levels. By Thursday markets peaked on the GST reform announcement and closed at the lower end of the day's range. In effect market men discounted the proposal by Amfi (Association of Mutual Funds in India) to launch a fund scheme for voluntary retirement beneficiaries to park their retirement savings.

The Amfi specifically mentioned t...