Are we headed for a sell-on-news market on June 4? Siddhartha Khemka explains

economictimes.indiatimes.com:

Siddhartha Khemka, Head-Retail Research, MOFSL, says if the BJP manages on its own around 340-350 seats, that will definitely enthuse the market to some extent and overall, we are expecting that barring a few days of volatility, market focus will return to fundamentals. On both the macro as well as on the micro front, India stands pretty confident with 6.5 plus percent growth expected for the next two years and 16- 18% corporate earnings growth for next two years.
Are we headed for a sell-on-news market on June 4 and do you think a market which is already easing off, has a chance to go up or will it be down?
Siddhartha Khemka: There are various possible scenarios and outcomes and based on that, the market could react. There is a lot of talks and a lot of reports being floated around with respect to how market would react to the number that the BJP kind of garners, so anything between that 310-320 would be a scenario where I would believe that it is a news or event that is already discounted for and we could see some partial profit booking after that.

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But if BJP manages on its own around 340-350 seats, that will definitely enthuse the market to some extent and overall, what we are expecting that barring a few days of volatility, market focus will return to fundamentals and if