Suggestions by Market Guru to Avoid Mistakes During Tracking Market Trends and Investments:
In October, Zee Business Managing Editor Anil Singhvi gave a warning to investors and traders not to make certain mistakes during tracking market trends and making investment decisions. To avoid confusion, Market Guru stated that investors should not base their trading calls on trends in the US markets alone.
US markets being on the rebound on the back of news around a stimulus package will be too early to predict the market movement even if the package comes through, he further said and added that he was not taking a one-sided view on the stimulus package.
US Presidential contender Joe Biden and President Donald Trump will also be debating today regarding the markets could be volatile as the country approaches the 3 November elections. Singhvi said that it is still unclear which way the results will go since the overnight volatility will play out throughout this month and any call on BTST (Buy Today Sell Tomorrow) trades based on overnight closing, could be counterproductive.
The Market Guru also added that traders should not take a call based on the overnight positions depending only upon the trends in the US markets.
They should hope for the best and be prepared for the worst while carrying they're traded over the next day.