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Anil Singhvi: Instability to remain in markets today due to expiry

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Weak global cues coupled with expiry caused a market fall by over 1.5 per cent on Wednesday. Will markets fall between 1-1.5 per cent by end of today, taking cues from the US markets? Zee Business Managing Editor Anil Singhvi solves the conundrum for viewers.

Major Asian markets including Chinese, Hong Kong and Taiwan are closed today so there aren’t enough indications from there, the Market Guru said adding that Dow Futures and Indian stock markets are also not showing signs of strength.

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 There is no confusion as to which way markets would go, he said indicating a downward trend in the markets today. The traders have to see by how much will the markets fall and how much recovery is possible from those levels. Had it not been the day of expiry, the levels would have been certainly between 10125 and 10175. This is the perfect range where the markets would have fallen, if there was no expiry.

But on the day of expiry, things are different. The learning from the past has been not to be overconfident and take a call, Singhvi said. He further said that he has been avoiding taking calls on Nifty and Bank Nifty on the day of expiry. He further said that though he took a contra call on Wednesday, it was not without emphasis on gauging the risks before taking a call.

The volatility is likely to rise because of expiry. He however, said that any expectations of expiry around 10500 levels was unlikely.

Singhvi said that the traders will have to settle with the volatility factor in the markets and continue trading as there will not be any getting away from it. However, the Managing Editor advised investors to not be too worried about a single day fall.

See Zee Business Live TV Streaming Below:

Buying activity was seen among the Foreign Institutional Investors (FIIs) on Wednesday as they bought shares worth Rs 1767 cr.



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