Check out Mazhar Mohammad’s advice for investors

Domestic benchmark indices were trading subdued with choppiness. The S&P BSE Sensex was down 50 points, hovering around 58,250 while Nifty 50 was down 11 points near 17,350. Nifty Bank and broader markets on the other hand were seen outperforming benchmark indices. Mazhar Mohammad of Chartview India spoke to Money9 on strategies investors can look at in a volatile market scenario.

“Some weakness is building up in markets across the globe. In terms of levels, the Nifty is expected to trade in a range but one cannot rule out a correction. Nifty Bank is looking positive on the other hand and we may see it crossing over 37,000 but only once it closes above the level a sustainable move can be expected on the upside”, he said.

As a strategy however, he believes that one needs to remain cautious and believes it will be better to stay out of the next leg of the rally and wait for a deeper correction to invest. He believes protecting capital should be the key focus of investors rather than participating in the last 5% of the rally

Stock Recommendations

Texmaco Rail | Buy | Target: 39 | Stop Loss: 31

Lincoln Pharma | Buy | Target: 384 | Stop Loss: 340