Anil Singhvi recommends selling at these market levels; ample opportunities for entry at lower points

Confused about the Global stock market action? What is the current situation and what the trends would be going forward? How should investors prepare themselves? Zee Business Managing Editor Anil Singhvi gives his take on the existing trends and what should be the strategy for dealing with the market trends. 

The Market Guru said that the Global Markets are not showing any signs of weakness. On looking at the index one may think that the markets are closing with a very little difference. But one must also see that the new highs are being achieved on a regular basis, Singhvi said. There was a life high on Monday and Tuesday in Dow Jones.

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Meanwhile while, Nifty is at some distance from its life high of 15,431 – around 700-800 points, the Managing Editor said. There is some weakness in domestic markets, he said adding that the Global markets are doing fine.  

There is some correction in Nasdaq and that is because there has been a shift from the technology stocks to old economy stocks, he said. This is not a big deal and it appears that the global setup is not having any problems.

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After a big rally, the global markets are still riding high, albeit with some lesser pace.  

Dow Jones – Nifty Equation 

The Market Guru said that there could be some downside risks in Nifty if the Dow Jones starts falling. In the next few trading sessions, it will become clearer if the US markets are ready to go up or down after seeing some consolidation. 

It is likely that there will be a discussion on US President Joe Biden’s US 1.9 trillion stimulus plans, Singhvi said. 

Anil Singhvi’s Strategy on Nifty 

The Market Guru said that he recommends selling if the Nifty opens with a gap of 100 points. He said that since the trade is range bound, any opening with a gap is required. Since there are opportunities of a two-way trade now, so it is important to open with a gap to capitalise on it. 

He said that the Dow closing was almost flat and the Foreign Institutional Investors (FIIs) are negative. The Futures and Options (F and O) markets are a bit positive. He recommended selling between 14,800 and 14,850. It will again be available at lower levels, he said.