Editor’s Take: Indian markets heading for good BULL run, Anil Singhvi says; book profits on oversubscribed, low-quality shares

Zee Business Managing Editor Anil Singhvi has suggested that investors in mid-cap stocks should book profit in the current ‘relief rally’ of broader markets. He also recommended loosening positions in stocks that have been overbought and also the ones which are not good quality mid-cap shares.

The Indian markets are heading towards a bull run with last week’s correction, wherein Nifty had touched 16375 levels, many traders and investors were upset with the Index’s downward trend, the Market Guru said.

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The market's rise and fall are natural, and investors must not worry too much about it, the Managing Editor said.

Singhvi had recommended that until the benchmark doesn’t fall below 16125 levels the market is strengthening and there is no risk to the market, and also asked investors not to take any stress with respect to their portfolio.

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At present, Nifty Index is strong, Nifty Bank is weak and both mid and small-cap indices are mute, says Singhvi, adding further that against each declining stock, there were two gaining stocks on Friday.

There has been a relief rally in the mid-cap shares after last week’s correction, the market guru said and pointed out that the strengthening of the index is yet to happen and it will happen going forward.

Singhvi mentioned that Nifty and Sensex ended at a record high on Friday, which is an indication that the market is growing and getting ready for a good bull run. He adds, not every time the market would only grow, as it’s a phenomenon of up and down, which is a part of life.

The managing editor said, if you have a position in mid and small-cap shares, and have seen a correction of 25-30 per cent, loosen yourself. He also suggests booking profit oversubscribed any low-quality shares, however, also advises to rejig portfolio with good quality stocks and hold for better gains.