A great rally last week not only gave markets their highest closing point since 24 March, but the closing is also an indication that momentum has changed. Zee Business Managing Editor Anil Singhvi reveals that the cash stocks and mid cap stocks are now likely to see some action. Going one step ahead, the Market Guru explained what the investors should do and where they ought to put their money? Here are some very useful tips from Anil Singhvi.
The Managing Editor said that he was bullish on the markets today. There will be opportunity for buying at lower levels. There will be a special focus on the mid-cap stocks and cash markets.
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US मार्केट में सुस्ती और मुश्किल वीकेंड के बावजूद क्यों है खरीदारी का बेहतरीन मौका? जानिए अनिल सिंघवी की राय…#EditorsTake #USMarket #DowJones #NSE #BSE #Sensex #Nifty @AnilSinghvi_ pic.twitter.com/uVRFqUMiXb
— Zee Business (@ZeeBusiness) June 22, 2020
The markets have been in the mood of correction and trading activity has been within a range, Singhvi said. This shows the current strength in the market.
The correction on the higher side will not take too long and in fact, markets have been seeing corrections since the beginning of the June month, he said.
This is despite the fact that the US markets have not been of much support for the Indian markets since last week, he added. One week back the US markets were quite strong and that has changed in the last 2-3 trading sessions.
The Indian markets have recovered well from the lower circuit of 23 March and have also attained the highest closing, going past the 10167 level. On a weekly basis Nifty ended at 10244. This shows the strength of the market, he stressed. Bank Nifty which had the highest closing of 21187 closed at 21338.
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Cutting through all confusion, Market Guru said that the important point is that the markets ended on a high at a time when Dow Futures were trading in the red on Friday and amid tensions with China. When the markets ignore these factors and end upwards, it is a clear indication of their strength. Moreover, the markets have seen resilience even when the Foreign Institutional Investors (FIIs) did not buy much.