In our latest episode of Buy or Sell, experts provide suggestions on what should be your next move.
Nifty trades weak as crucial support zones are broken. It can slip further if it is unable to break the resistances on the upside. Nifty could test 10,850 levels as every bounce back is being sold into. Markets are highly volatile, as India VIX is at a seven month high.
Volatility is up by about 25% in the current series. Put-Call ratio is also at seven month lows. Upside in the market looks restricted. Banks and financials are the big culprits of the market fall. Nifty Bank is more vulnerable than Nifty at this point in time.It could inch lower to 24,500 levels. Within sectors, metals, IT and oil and gas hold on to gains, bet on TCS in the IT sector as it shows strength on charts. Maintain bearish view on banks.