New Delhi, April 7 -- Dear reader,-

Last week, I wrote that bulls were exhibiting guarded optimism as market data showed below-average buying conviction. Do remember that I had pointed out the March magic factor. Institutional buying is usually seen as the financial year draws to an end. Once March is done and dusted, buying momentum ceases in the near term. Prices tend to come off their recent upthrusts, till fresh buying impetus occurs. This time, things are more than a little different. We have US president Donald Trump to thank.

The selloff gained momentum worldwide, as business leaders braced for a global downer. Stock markets reflected these weak sentiments by marking down stock prices. From the point of view of a trader, this dec...