Expert said - be careful if Stock Market goes below this mark!
The stock market has been declining for the past several weeks. In such a situation, investors are afraid that this decline may continue for more days. Actually, foreign investors are rapidly reducing their share in the indian market, due to which the market is also seeing a decline. Talking about the month of november alone, foreign investors have withdrawn Rs 22,420 crore from the indian equity market. At the same time, in October, foreign investors had withdrawn a total of Rs 94,017 crore from indian shares.
What are the experts saying?
Speaking to Moneycontrol, sudeep Shah of sbi Securities said that the BSE Sensex is currently trading around the 200-day EMA level. At the same time, momentum indicators and oscillators are also indicating a strong downward momentum in the Sensex. In such a situation, if the Sensex goes below 77,400-77,300 (200 Day EMA), then a huge decline can be seen in the stock market. On the other hand, regarding bank Nifty, Sudip Shah said that this index has given a 5 week consolidation breakdown and it has formed a big bearish candle on the breakdown week. Due to this, the pressure of decline may increase in the short term.
There may be improvement in the long term
According to the report of Economic Times, Jimeet Modi, CEO of Samco Ventures, says that there is no need to panic about this decline. He believes that market correction is a normal process, which is better for the market in the long term. Jimeet says that such declines are often seen in the market and they are mostly part of a strong growth cycle. If you look at the data of the last five years, you will find that such corrections have been happening in the market and after that the market has performed well in the long term.