Domestic equity benchmarks opened with gains on Tuesday morning, shrugging weak global cues after Wall Street closed with losses and Asian markets mirrored the fall. S&P BSE Sensex opened up 200 points above 58,600 levels while Nifty 50 regained the level of 17,450. Bank Nifty started the day higher but was down in the red soon. Osho Krishan spoke to Money9 on how should investors trade this market.
“The current market may see some more volatility. The India VIX, from the current around 17 levels, may also see up move towards 19 levels. So, amid volatility it is best for investors to have a stock specific approach and use dips to buy as the underlying bull trend remains intact in the current markets”, he said.
He also believes the Indian markets are displaying inherent strength despite the jitters in global markets ahead of the US Fed comments on taper.
BirlaSoft | Buy | Target: 442 | stop Loss: 390
Tata Motors DVR | Buy | Target: 160 | Stop Loss: 137
Havells | Sell | Target: 1300 | Stop Loss: 1480
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