The market has recovered around 21 percent from lows in March but has not attained the same levels as before. Indices are moving in a range and are lacking any direction in the absence of any positive news on COVID-19 front.
"The situation is very fluid but if we are to assume that there are no large shockwaves emerging from global markets, we expect market to remain rangebound for near term till further clarity on emerging of lockdown and the coronavirus cases top out and start reducing consistently," Sumit Bilgaiyan, Founder of Equity99 told Moneycontrol.
"In case of any news in terms of sharp rise in cases globally or failure to come out with an effective medicine and vaccine the markets may witness a sharp correction. Also, further significant extension of lockdown may lead to a sharp correction," he said.
Ajit Mishra, VP Research at Religare Broking also said markets were constantly facing headwinds as the prevailing lockdown has completely derailed the economy and the news of a further delay in the stimulus package has dampened the sentiment.
Stock cash tips , Equity tips , MCX tips
For Quick Trial – 91091 93302
or mail us here: info@moneyplantresearch.com
or visit https://www.moneyplantresearch.com
No comments:
Post a Comment