Anil Singhvi: Do not put money in NBFC, banks shares, sell-off may hit markets again; invest in MFs at lower levels

Batting strongly for booking profit in banking and NBFC counters when the NSE Nifty touches 9,800 to 10,000 levels, Zee Business Managing Editor Anil Singhvi said that Indian share market is about to make its top in the next few trading  sessions. He said that stock market top will start emerging from 9,400 to 9,600 levels and the market guru advised investors to book-profit in banking and NBFC shares as they may lead tanking pack in coming trade sessions once the market makes its top. He advised investors to invest money in fixed income tool options and re-enter the equity market when it hits 8,000 to 8,500 range. Anil Singhvi said that it will help investors maximise returns on their hard earned money.

Speaking on the stock market top that is in-the-making, Anil Singhvi said, "I strongly believe that after 6-7 per cent rise in the equity market, one should keep on booking profit in banking and NBFC stocks as they have been under huge selloff heat after the Coronavirus fears. I strongly believe that stock market has appreciated around 20 per cent after making its bottom and hence one should book profit in the next rise rather than waiting for the 12K levels at Nifty." 

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He said that due to the Coronavirus spread, global markets have become highly volatile and after exiting at the market-top level one would again get a chance to re-enter at 8,000 to 8,500 range depending  upon the market scenario at that time.

On what should be the strategy after fishing out money from the equity markets, Anil Singhvi said, "In current volatile equity market, one should exit at the stock market top and use this money in the fixed income options. It will help the investor's money grow till the market makes another bottom. Once, the market makes its new bottom, the investor can fish out the money from the fixed income tool and re-enter the equity market."

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नहीं लेना है बैंक और NBFC शेयर...अनिल सिंघवी ने कहा- फिर आ सकती है बाजार में बड़ी बिकवाली...बोले- म्यूचुअल फंड में नीचे के लेवल पर लगाए पैसों में जल्द आएगा मुनाफावसूली का वक्त#EditorsTake #Nifty #MutualFund #NBFC #CoronaVirus #COVID19 #ZBizBazaar @AnilSinghvi_ pic.twitter.com/fvLKoi62Aq

— Zee Business (@ZeeBusiness) April 24, 2020

Singhvi said that till NSE Nifty is trading in 7,500 to 9,300, one should always feel threatened by the COVID-19 volatility as this is the most dangerous zone for the Indian market. He explained, "If the market soars up to 9,800 to 10,000 levels, then it would be around 7 per cent rise from current levels, which is an ideal rise for profit-booking." 

Singhvi was of the opinion that it will take time for the markets to regain 11,000 to 12,000 levels and hence these levels should be considered as stock market top till next triggers come.