Anil Singhvi's stock market tips: Market Guru explains gold, silver price crash impact on equity market; advises 'buy on dips strategy'
Stock Market Tips With Anil Singhvi: After 'limited rally' for six successive trade sessions, Indian indices have taken a pause ahead of the weekly expiry.
Stock Market Tips With Anil Singhvi: After 'limited rally' for six successive trade sessions, Indian indices have taken a pause ahead of the weekly expiry. According to Zee Business Managing Editor, this pause is because of the global sentiments going from positive to neutral. However, the Market Guru maintained that there have been series of good news — gold, silver price correction, Russia's claim of developing Coronavirus vaccine, etc. — for the equity market and hence any dip should be seen as a buying opportunity.
Speaking on the impact of gold and silver price crash on Tuesday Anil Singhvi said, "Gold and silver price crash is a good news for the global equity markets including Indian stock market because one rushed towards gold when the future economic outlook is gloomy. This correction reflects that the economic outlook for the global economy is getting some clarity. This may be because of the Russian President Vladimir Putin claiming to have developed Coronavirus vaccine in Russia." Singhvi said that we need to take Vladimir Putin seriously as he is one of the most powerful leaders of the world.
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On other triggers that also augurs well for the equity markets the Market Guru said, "Apart from bullion price crash in the international markets, there is second stimulus package hopes in the US and the profit-booking triggered in the billions has announced that dream run of the asset class is over. It was just a matter of who blinks first and the gold and silver prices have done the same."
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बाजार में हर गिरावट पर करो खरीदारी...
अनिल सिंघवी ने कहा- सोने-चांदी में गिरावट इक्विटी मार्केट के लिए अच्छा संकेत, अमेरिकी बाजार में सिर्फ ‘रनिंग करेक्शन’, अब हर गिरावट पर लेना है...लेना है...लेना है...#EditorsTake #Nifty #BankNifty #USMarket #Gold #Silver @AnilSinghvi_ pic.twitter.com/tDcKr8xj1a
— Zee Business (@ZeeBusiness) August 12, 2020
On the Dow Future crash yesterday, Singhvi said, "The US markets have rallied for seven successive trade sessions and in fact, it rallied for eight trade session in the early morning trade. so, it should not be taken other than a profit booking after a long rally."
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