Is the current volatility enough to rock the boat?

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Markets have opened stronger after yesterday's slide, but there is still a lot of volatility in the system-- a major concern at this point in time. Markets have been very volatile over the past 10 days, and experts are advising clients to buy on dips. As the street eagerly awaits Q3 corporate results and the budget, experts reaffirm the larger macro picture.

 

Maintaining that the long-term India story is intact, experts by and large are still bullish on the markets.

 

Technical analyst Sudarshan Sukhani says that the market is in a phase of correction, and traders should stay out at this point as it is difficult to trade in a bull market.   

 

Deven Choksey of KR Choksey Securities says budgetary expectations and the corporate results will be the next big trigger for the markets. "In my viewpoint we are consolidating at this point of time, corporate fundamentals stay quite positive."

 

Going forward, in the current scenario of the country, he doesn't see anything negative happening for the economy. "All in all, stay invested in this market, and maybe having an opportunity to get some select stocks at lower levels, I think one should get into the market."

 

Raamdeo Agrawal of Motilal Oswal Securities says there is some uncertainty in the markets causing players to feel a bit edgy. He is also of the opinion that the quarterly results will guide the market going ahead.

 

With the way the markets have been behaving, he says that currently any small trigger is largely impacting the market, which is not good. While the macro factors are intact, he senses that players in the markets, seeing what has been happening of late, are looking to every opportunity to book profits. "They do not have conviction in the underlying story where it comes to the projections," he says.

 

Is the current volatility enough to rock the boat?