Opportunity for two-way trade over next 2 sessions, Anil Singhvi says; know what will be key to success
In stock market, there is usually a big move just before expiry. The markets exhibited one such move on Tuesday, despite opening weak. How should the investors read this phenomenon? Zee Business Managing Editor Anil SInghvi gives his take on this!
In stock market, there is usually a big move just before expiry. The markets exhibited one such move on Tuesday, despite opening weak. How should the investors read this phenomenon? Zee Business Managing Editor Anil SInghvi gives his take on this!
The unpredictability of markets is its biggest virtue, the Market Guru said. The Indian markets were lucky to have a trigger at the time they needed it most. This trigger was the news related to changes in the rules for the Morgan Stanley Index, he added. This was the only reason which came to the rescue of the Indian Markets.
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Singhvi said that some credit could also be given to the sentiments around the Prime Minister’s meeting with the Finance Minister Nirmala Sitharaman on Tuesday. The FM is expected to meet the Finance Secretaries today.
The talks around another economic package has been ongoing for a long time now. It appears now that the government has made up its mind to give an economic package now.
The anticipation around the package is a trigger that keeps the market going. It is another thing that the market will assess the package once it is declared.
These were the two important triggers that pulled the markets off from the lower levels, the Managing Editor said.
There was good action in the Markets even on Monday and it will not be a surprise if the next two sessions remain action packed and volatile, he further said.
This expiry which is a monthly expiry is not the one which would go without action. There are enough indicators including news and quarterly results season. The action in today’s session and on Thursday cannot be ruled out, he said.
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Sounding a caveat, Singhvi said that the investors should watch out for volatility on Wednesday and Thursday – the day of expiry. Investors could get opportunities for a two-way trade. Disciplined needed to be maintained for intraday and overnight trades, he said.
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11:17 AM IST