The stock market has two sides up and down and one can make money on both sides, says Ashwani Gujral.
The market today closed at a fresh 2018 closing low. It closed in the red for the sixth straight day. Financials continued to outperform and contributed 40 percent to the Nifty fall. The IT Index was the top gainer.
The 30-share BSE Sensex has broken the 33,000 levels and hit an intraday low of 32,991.14, before closing down 284.11 points or 0.85 percent at 33,033.09.
The 50-share NSE Nifty ended below 10,200 levels, falling 95.10 points or 0.93 percent to close at 10,154.20. The index lost more than 1,000 points from its record high of 11,171.55 hit on January 29, 2018.
Market experts SP Tulsian of sptulsian.com, Ashwani Gujral of ashwanigujral.com, Mitessh Thakkar of mitesshthakkar.com, Dilip Bhat, Joint MD, Prabhudas Lilladher, Taher Badshah,CIO-Equities, Invesco Mutual Fund and Devang Mehta Head-Equity Advisory Centrum Wealth Management in an interview to CNBC-TV18 shared their outlook for the market going forward.
Gujral says the stock market has two sides up and down and one can make money on both sides. So, it is better to make money on the downside than waiting for support every 20-points.
According to Gujral, as long as 9500 on Nifty is held, it is a bull market correction.
Thakkar says since we still haven’t got the reversal signal one can continue to be short. Overall, it remains a sell side market and in case there is a strong bounce back from 200 moving day average then 10,250-10,280 zone would be good levels to go short.
