Action on the F & O expiry day clearly indicates negative outlook for the near future. The economic survey and budget announcements today as well as on Monday and the surging crude prices will dominate trading direction and activity for the next couple of days. Sentiment is certainly very weak. Only silver lining is the preparedness on the part of market participants in terms of huge purchases of out of money puts. This could prevent a major breakdown from the current levels. We advise investors to stay invested and use dips to buy more in a staggered way. Traders can trade with a negative bias in the near term.
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