Today, there could be some easing as Asian stock benchmarks (barring Nikkei) are in the red. US stocks gained on Friday, spurred by better-than-expected results by Ford and encouraging data on new home sales. European shares too posted strong gains. The SGX Nifty in Singapore was last seen down a little less than 1%.
Patience always pays whether its markets or life. Those who were patient enough to endure last year’s crash have reaped a rich harvest in the past month and a half. There are many who have missed the relief rally and are keen to cash in on the upswing. But, they should be careful as the advance may not sustain for too long. So, lock in some gains and wait for better opportunities when there is a fresh correction.
However, a short squeeze is not ruled out ahead of Wednesday’s F&O expiry, which could take the key indices further up. The overall mood is likely to remain upbeat. Markets are shut on Thursday and Friday. Election fever remains high with three more rounds still to go.
