MUMBAI: Siddharth Bhamre of Angel Broking said this is clearly a sell-on-rise market.
"In this downtrend market, we are seeing markets going up but at the end of the day, you are seeing prices quite lower. So, clearly, it’s a sell on rise market.... We expect October lows to be hit but we are not expecting very significant downside from the October lows. What we are recommending to traders who have formed positional longs from 3000+ levels is to cover their short positions at 2,300-2,400 and not form aggressive short positions at this point of time."
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