So long as market does not create a new high, there's a risk of this correction deepening: Dipan Mehta
Dipan Mehta, Director,Elixir Equities, says he is in a wait-and-watch mode, sitting on a little with a bit of cash expecting a correction as are so many other professional investors. We do not know whether this particular correction is over and done with or that it can deepen further because so long as the market does not create a fresh new high, the risk always remains that this correction can particularly deepen.
Once again, it has proved to be a very short-lived correction in the market after the Monday meltdown. Now we are practically back to where we left off. How have you dealt with the past two days?
Dipan Mehta: Nothing, just stay put. We have seen such down days being immediately backed by ferocious buying as we have seen today. But let us see. We are in a wait-and-watch mode, sitting on a little with a bit of cash expecting a correction as are so many other professional investors. We do not know whether this particular correction is over and done with or that it can deepen further because so long as the market does not create a fresh new high, the risk always remains that this correction can particularly deepen.
So, only time will tell. But a lot depends upon global markets and FII flows as well. But for the time being, as an investor, it is best to stay put and watch out and play out the earning season and see what numbers are coming, which are the good ideas, and which are the misses where one can exit from.
When the Jio Financial Services stock was listed, everybody was saying that it does not have a
