Nifty Outlook: Is the correction cycle complete or is another fall in offing? Market Guru decodes trends
Will stock markets go through another round of corrections? Well, long-term investors should not fall prey to fear as there will not be a one-sided correction going forward, Zee Business Managing Editor Anil Singhvi has assured investors. The long-term trend remains positive, the Market Guru opines. Here is what he says about the trends in the markets also what investors should watch out for
Will stock markets go through another round of corrections? Well, long-term investors should not fall prey to fear as there will not be a one-sided correction going forward, Zee Business Managing Editor Anil Singhvi has assured investors. The long-term trend remains positive, the Market Guru opines. Here is what he says about the trends in the markets also what investors should watch out for.
The Market Guru said that Monday's fall was largely due to fears related to coronavirus pandemic. The market fall was unrelenting, and this points to the fact that the positions of investors and traders have significantly reduced now. The pressure for Foreign Institutional Investors (FIIs) to book profits was seen. As for traders, many stop-loss marks got triggered, he further said.
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If there is a sharp decline in the markets with no signs of recovery in the entire trading session, it points to the fact that people wanted to only sell, the Managing Editor said.
He said that there could be more correction from here but it will not be one-sided. He said that there will be instances of recovery.
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He said that the Nifty target in a bull run is still intact between 17,000 and 21,000 and long term trend remains positive. His advice to the investors and traders is to not be worried about the long term trend. As for those who have a view of 1-2 weeks, the signals will be different, he said. This sharp fall in the markets is an opportunity to take fresh positions, he further said.
However, there will be weakness if the Nifty breaks away and starts trading below 14,200-14,250. This is a strong support zone and the markets took comfort at these levels on Monday. He said that the correction would be complete when the Nifty starts trading between 13,250 and 13,800.
Significantly, investors or traders should be ready to buy around these levels. Markets are undergoing a running correction and testing the patience of the market participants, Singhvi said.
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