Time to buy? Wait for market to consolidate for at least 3 days: Atul Suri

A lot of stocks are looking attractive but I will wait for some stability. I would wait for some more consolidation in which 3-day low does not get violated.

Moneycontrol News

March 09, 2020 / 12:51 IST

The S&P BSE Sensex and Nifty50 hit a fresh 52-week low on March 9 but experts feel that it may not be the time to buy stocks just yet.

In an exclusive interview with CNBC-Tv18, Atul Suri, Founder & CEO, Marathon Trends – PMS said that he would wait for the market to at least consolidate for three days.

“A lot of stocks are looking attractive but I will wait for some stability. I would wait for some more consolidation in which 3-day low does not get violated,” says Suri.

“The crisis is not about India. The big problem was the sharp fall seen in US Bond Yields due to coronavirus fears, and the overnight development in crude oil added more weight. Hence, the fall in Nifty is largely due to what is happening in the globe,” said Suri.

Suri feels that the world economy is witnessing a domino effect and Indian markets too have fallen victim to it. Global markets are oversold and he doesn’t think anyone has a full understanding of the impact of Coronavius & the crude war.

COVID-19 Vaccine

Frequently Asked Questions

How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

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There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

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