Markets are under severe pressure since last week and the weakness continues as of yesterday. Overall we have seen a lot of carnage in a lot of stocks and portfolios within a few days. That is the norm with sharp corrections.
Where this correction ends is anybody’s guess. Technical experts were expecting support at around 25300-25500, and below that 24700-800. We are close to the lower of the two levels, and still are not sure which way things will pan out.
Factors affecting sentiments are plenty, including the geopolitical situation, affecting oil and currencies, local factors (which seem temporary) in form of state election results, China resurgence ( with a theory that FIIs are fleeing India and shifting their bets to China) , so on and so forth. The good thing is markets often bottom out on bad news, so who knows we may have a chance.
As with all corrections, its prudent to remain stock specific and focus on companies we hold. If any switch is needed, it can be done if possible beccause in these type of corrections, everything corrects to varying degrees, so switching is easy if size of holding is not too big a problem.
We still do not have any signs of reversal from this correction, so would be prudent to be watchful and see how things pan out. If we are fully invested, there is nothing else to do but grin and bear the pain. And hope it eases soon. For those with cash, its a question of what to buy and how much to buy.
@pulkit09 I don’t have any idea about BLS E services.
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