New Delhi, Nov. 9 -- Ticker is a weekly newsletter by Vijay L Bhambwani. Subscribe to Mint's newsletters to get them directly in your email inbox.

Dear reader,

Last week, I advocated that the Nifty needed to clear the 26,100 hurdle on a sustained closing basis or bulls would find the going tough. That analysis was validated by the market action. Read that article here. I cautioned my readers about the rapid rise in speculative buying fuelled by borrowed funds. I expressed concerns about the destabilising effect of this sizable borrowing on prices. When a market participant buys in the spot segment with his own money, drawdowns have a limited or no psychological impact. With borrowed money, falling prices and interest payable worry a bul...