Anil Singhvi's take on stock market rally; what investors should know
Zee Business Managing Editor Anil Singhvi has some points for stock market investors after the big rally.
Zee Business Managing Editor Anil Singhvi has some points for stock market investors after the big rally. He said they should avoid any bulk position as it is still not clear about where the market movement will go amid this ''hope'' rally being seen in the Indian indices in recent trade sessions. He said that it's very difficult to fix the lower bottom as we are still not out of the Coronavirus situation. However, he said that one can expect recovery in the markets if the NSE Nifty closes above 9,200 levels for at least two trade sessions.
Speaking on the ''hope'' rally luring stock market traders into bulk investing, Anil Singhvi said, "Till market is below 9,200 nothing can be said about the recovery in the Indian stock market. But, once it closes above this level for two straight sessions, we can expect fresh recovery as 9,200 is a crucial level and sustaining above means a lot for the markets." Singhvi also said that if the rally we are witnessing these days is going to sustain, then we are soon going to witness the 9,200 levels at the Nifty-50 index.
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But, Singhi advised investors to avoid taking any bulk positions today as Share Market will be closed tomorrow on account of Good Friday and next two days.
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— Zee Business (@ZeeBusiness) April 9, 2020
"In next three days, we will have a clear picture as to which direction out fight against the COVID-19 virus is heading as we will have three days data. Apart from this, how the US copes with Coronavirus will also become clear for the world and hence on Monday, picture will be more clear. So, it's better to wait for Monday than to take any bulk position today," said Anil Singhi.
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