16 October has a bad reputation among Nifty traders. In 2008 the Nifty Index fell 69.10 points in a day of October, and then in 2014 the index fell 115.80 in a day. However, a glance at the accompanying chart tells a different story. In the 26 years since 1991 the Indian stock market has only seen mixed returns in 16 October.
But, while average equity market returns in 16 October may be better than thought, this day does have a deserved reputation for volatility.
In the past 26 Years, Nifty made a minor loss -31.92 points this day on seasonal pattern. Even we do not get any enough indication for this day on seasonal cart.
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