Stock Market Today With Anil Singhvi: Zee Business Managing Editor Anil Singhvi has said that Indian indices are moving on India-China border news not the data. The Market Guru maintained that the trend is expected to continue this week as Defense Minister Rajnath Singh yesterday said in Lok Sabha that tension is still not over. Singhvi said that after this statement, it has become clear that India-China standoff is still looming on the markets and a single negative news in this regard can bring down markets to 11,200 to 11,300 levels. However, he also said that a single positive indication can pull market up to 11,700 to 11,800 mark. He advised traders to avoid overnight position while long-term investors need not bother as fundamentals of the markets are still strong.
Decoding the meaning of Defense Minister Rajnath Singh’s speech yesterday in the Lok Sabha, Anil Singhvi said, “The Defense Minister has clearly said that India China border tension is still not over. In fact, the tension has now shifted to Arunachal Pradesh also where both side’s forces have enhanced their activities there.”
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Singhvi maintained that both countries are holding bilateral talks and a single positive breakthrough can push Indian indices to around 11,700 to 11,800 while a single negative India-China border news can bring down NSE Nifty to 11,200 to 11,300 levels.
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On how to remain safe from this news caused volatility in the markets. the Market Guru said, “Long-term investors need not bother much as fundamentals of the markets are still very strong. But, for traders, they need to remain extra cautious and maintain stop loss while taking any position as markets can move both ways because no one can predict what will happen on India-China border in next few hours or days.” Singhvi advised traders to avoid holding overnight positions as there is less chance of getting benefit of gap-up or gap-down benefit next day.