Stock Market Volatility: Investors, traders alert! One should not panic from these corrections, says Anil Singhvi; cites REASONS
Indian stock markets opened on weak note on Thursday with Sensex and Nifty losing 379.73 points and 119.20 respectively in the opening trade.
Indian stock markets opened on weak note on Thursday with Sensex and Nifty losing 379.73 points and 119.20 respectively in the opening trade. Talking about this correction, Zee Business Managing Editor and Market Guru Anil Singhvi said investors and traders should not panic as running correction is bound to happen.
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Explaining the today's trading session in terms of expiry, the Market Guru said, "Opening is not important, it's where the indices close is crucial. It was known that the market will open on weak note amid global cues. I was also sure that there will be recovery. Even during the morning commentary, we did not let people panic and have said that the indices will form bottom around the same level where it opened today. 15,575 to 15,650 is strong support zone. As long as Nifty does not close below 15,575, there is no need to worry at all. Correction will come and go."
रनिंग करेक्शन से घबराएं नहीं...
अनिल सिंघवी- 1-2 के रनिंग से डरना नहीं है, FIIs की बिकवाली के चलते ऊपरी स्तरों पर दबाव दिखेगा
— Zee Business (@ZeeBusiness) June 17, 2021
Zee Business Managing Editor said there will be also profit booking at upper levels as yesterday's FIIs data were poor and domestic funds are also not buying.
"Though there will be volatility, but this market will give opportunity both ways. 15,575 and 15,650 is the range where buying action will be seen in the market and on the upper side 15,750 to 15,800 is the range where you need to make profit booking. One should not take decision in haste. They should let the markets tilt ether way and then take call accordingly. As far as the US market is concerned, it will resume trading in normal ways in a couple of days as the Fed meeting is over now and the trigger will be primarily economic data going forward."
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