Every stage of market offers opportunities for both bulls and bears: Arun Kumar

Every stage of the market offers opportunities for both the bulls and the bears hence, it is very important to determine which set of sectors or stocks are likely to outperform and then invest accordingly, , Market Strategist at Reliance Securities, said in an interview with Moneycontrol’s ,

The Indian equity market struggled to find support after Monday’s (May 18) steep fall. This action impacted the sentiments such that the leveraged positions shrunk and worries over the normal resumption of economic activity (growth concerns) led to lack of buying interest.

Both buyers and sellers failed to dominate this week. A clear close outside the range of 8,800 and 9,200 is required to determine the next directional bias.

The Bank NIfty is weak on near and medium-term timeframes. The price setup and the oscillators on these time horizons indicate that the trend is down.

However, a failure to hold its previous swing low of 16,116 could lead to a panic selloff.

Since we expect the overall volatility to prevail, investors are better off to select the leaders as they offer both liquidity and relatively lower volatility.

Traders need to tighten their stops, while the investors have to wait for a proper confirmation of a change in trend before committing new funds.

The Nifty 50 index is struggling to find a directional bias. It is broadly moving within a band of 8,800 and 9,200. These levels are crucial.

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