Market Outlook: Anil Singhvi says we may see new highs from May-June even
In a special edition of Editors Take, Zee Business Managing Editor Anil Singhvi urges investors to be patient and have confidence in the market as the moment the corona cases peak out and start trending downwards, the market will definitely spurt with sharp and fast recovery touching new life highs.
In a special edition of Editor’s Take, Zee Business Managing Editor Anil Singhvi urges investors to be patient and have confidence in the market as the moment the corona cases peak out and start trending downwards, the market will definitely spurt with sharp and fast recovery touching new life highs.
Being optimistic about the market’s rise, Singhvi believes that the market, by May-end or June, is going to see a turnaround and perhaps even a full-fledged bull run again. He says, the corona situation is the biggest factor or trigger for the current decline and it will pass eventually.
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As the earnings season has kicked off, Singhvi says the quarterly results numbers would be more in focus than the corona numbers as these will help power companies' stock in long term. He terms this quarter four earning season as a stress-buster for the market leading it away from the second wave of the coronavirus.
We, generally, see that the shares of any company react mostly on results day or around that time as investors focus only on that rather than the whole market, Singhvi said. He added that April and May will also see a lot of mid and small-cap companies releasing their Q4 earnings.
This week there are at least 11 Nifty companies’ results scheduled along with other small and mid-cap companies.
The market, so far, has been taking support at 14150-14250 level since the last few sessions, and it’s taking support because in the view of next 6 months to 3 years, corona may not be there and the market would certainly grow.
Singhvi adds that the investors, whose view for the market is of 4-6 days, they know the situation is utterly bad and people with a view of 4-6 weeks are unaware of what would happen next amid uncertainty in the market at the current state.
We cannot rule out the fact that the market won’t fall to the level maybe 13800 or 13500 or 13200, however, the moment, it sees the corona dust settle, it would surge exponentially and continue to hit new highs, says Singhvi.
He added that the market would bounce back with double force and speed as compared to its current decline.
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