Hello everyone, markets recovered today after a weeks fall. The recovery was due to short covering were shares move up due to buying. Markets were down due to the issue of MAT to be paid by the FIIs, the FIIs are asking for an exemption of MAT, while the Indian Government is refusing their request. Meanwhile, prices are overstretched technically that is why the correction is going on.
Many stocks cannot be purchased due to the dizzying heights they have achieved over a period of time ever since, Modi becoming Prime Minister. There is a fatigue of Bulls going on so, the market is falling.Or a necessary correction is taking place. This correction, is good as it gives an opportunity for people to enter into the market. Many shares can be purchased at lower levels of correction and be sold when Markets go up. The other fear is corporate results season has started and they dont seem to be encouraging. The IT stocks like TCS and Wipro have declared their results, and it is not upto the mark. The best thing to do is be patient, wait till you get a price for your stock, and book profits periodically. HAPPY TRADING AND INVESTING.
