"The first thing that people have to realise is that investment in stocks is probably one of the best ways to save and grow money," says Mobius.
The market is still lacking a clear direction, and traders are advised to stay light as long as the Nifty50 remains within a range and wait for a breakout to happen.
Though the coming week, the market is likely to take cues from quarter earnings, US elections, domestic macro data and foreign portfolio flows.
If you love equity as an asset class, then muhurat trading is the best time to purchase stks. It does not have to be a big amount but a token purchase can do.
As the economic environment stays favourable, investors should focus on auto, bank, infrastructure and consumer stocks going into Samvat 2073.
In other words, it signals a capitulation by the sellers to form a bottom accompanied by a price rise, indicating fresh buying at lower levels.
While narrating his journey from being a CA to a full-fledged stock trader, Jhunjhunwala said: “Sar pe kafan pahen ke aya tha,” when he first came to Mumbai.
Put writing was seen at strike prices 8,500 (14.68 lakh contracts added) and 8,550 (16.89 lakh contracts added) while Put unwinding was seen at strike prices 8,650 (9.3 lakh contracts shed), 8,700 (10.3 lakh contracts shed) and 8,800 (4.7 lakh contracts shed).
Domestic equity indices are likely to trade on a negative note on Friday, tracking a rise in US stocks in overnight trade, ahead of results of many blue-chip companies.
If the market succeeds in holding on to 8,650-8,700 levels in next trading session, traders can create long positions. Until then, one should tread with caution.
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