Stock Market With Anil Singhvi: Market Guru decodes reason for Dalal Street crash; suggests this strategy to remain safe
Stock Market With Anil Singhvi: After huge volatility in the Indian and global indices post Wall Street crash, Zee Business Managing Editor Anil Singhvi has said that traders should remain cautious for the entire September month.
Stock Market With Anil Singhvi: After huge volatility in the Indian and global indices post Wall Street crash, Zee Business Managing Editor Anil Singhvi has said that traders should remain cautious for the entire September month. The Market Guru said that yesterday markets crashed throughout the world for two major reasons — illegal money transaction at leading central banks of some of the European Union nation and fear of lockdown reimposition in some of the EU nations. Singhvi said that both are sentiments as nothing is going to last for long and they have done the damage they were capable of. Now the major reason to remain concerned is the fast approaching US Presidential Polls and high volatility in the market.
Speaking on the reason for the Dalal Street crash, Anil Singhvi said, "Indian indices have been nosediving since Friday evening but from Monday this crash has further deepened. There are two major reasons for that — illegal money transaction at leading central banks of some of the European Union nation and fear of lockdown reimposition in some of the EU nations. But these are sentimental triggers. major trigger that may allow the stock market to show recovery throughout this month is fast approaching US presidential Polls and high volatilit6y in the market.
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The Market Guru went on to add, "In this high volatile market, what one needs to follow is the major levels. One should not get into a panic because of the high volatility till the range is maintained. One should strictly maintain stop loss and keep an eye on the global sentiments and majority of the recent crashed in the markets have come from either US or from the Europe. But it doesn't mean one should stop keep tracking the developments in the China India border dispute."
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On what does the volatility actually mean, Singhvi said, "Volatility doesn't mean crash only. And at the same time, it doesn't mean rise in the markets only. Volatility actually means both side trends with sharp movement."
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