Stock markets may see movements both ways, but it clearly appears that there will be an upward movement from here, Zee Business Managing Editor Anil Singhvi said today. In this situation, the Market Guru revealed the best strategy for investors too. Singhvi told investors to buy on every fall in the market.
He was responding to a question on what investors should do in existing market situation. The markets have been exhibiting a position of strength and had a strong showing last week. Barring a lone trading session, when the Nifty closed below the 11,000 mark, it has been a one way journey, the Market Guru said. It bounced back from there immediately, he added.
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बाजार की दिशा तेजी की तरफ…अनिल सिंघवी- हर गिरावट पर करो खरीदारी, बाजार में और बढ़त की है तैयारी#EditorsTake #Nifty #Sensex #BankNifty #StockMarket #MarketUpdate @AnilSinghvi_ pic.twitter.com/cd6JqfHSMJ
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The markets still do not show any indication of closing down below the 11,000 mark on a sustained basis.
And what is the new bottom? Singhvi said the levels between 10900 and 11000 are a new bottom now. Investors should now see the trend reversal from positive to neutral below 10900. Significantly, Nifty is a long way from the negative zone.
The first three days of the last week were a bit tough, but the last two sessions showed positive movements.
While investors are seeing trades in both directions now and this situation may likely persist through this week as well, it is good that the markets are allowing investors to enter at right levels. The investors should not miss this opportunity, Singhvi added.
If you are a skilled trader and know how to deal in contra trades, then you should short your position with a strict stop loss at higher levels to book profits.
The weekly closing at Rs 11,200 is a strong closing by Nifty. The markets are ready for a further uptick, Singhvi said. The support level is 10,900-11,000.
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The Market Guru concluded by saying that it is unlikely that there will be a big fall in the near term. Any significant fall could only be on the back of global market upheaval or there emanates a selling pressure from the Foreign Institutional Investors (FIIs).