Today, the market is likely to remain sideways and rangebound, as it tries to break free. Looking at the movement of the indices of last few sessions, the choppiness is likely to continue. Short-covering in key index heavyweights may have led the recovery from day’s low on Tuesday.
Nevertheless, we don’t see any major upside coming in from these levels. At the moment, lack of immediate triggers could make indices move in either direction. The usual intra-day swings will continue to keep investors on tenterhooks. So, the best way to avoid the ongoing uncertainty and volatility in the market is to take a stock specific approach. We would advise to stick to index heavyweights and avoid momentum plays.
Nevertheless, we don’t see any major upside coming in from these levels. At the moment, lack of immediate triggers could make indices move in either direction. The usual intra-day swings will continue to keep investors on tenterhooks. So, the best way to avoid the ongoing uncertainty and volatility in the market is to take a stock specific approach. We would advise to stick to index heavyweights and avoid momentum plays.
