Time to buy quality stocks amid market fall: Deven Choksey
«Maybe whatever the fall is left, the panic fall, capitulation fall, whatever you want to name it as, I think that could possibly get arrested in a sooner period of time and should that be, then the market will have the signs of recovery,» says Deven Choksey, MD, DRChoksey FinServ Pvt. Ltd.
It is not a vicious selling, it is not ferocious, but it is painful. When will the tide turn because the news flow is not bad, but the technicals are looking very bad.
Deven Choksey: 22,800 Nifty has been tested twice and right now also it is coming under attack. So, certainly, technically you are right, absolutely, the market is showing the signs of weakness. And the minds are in the capitulation state. If not, the transactions. So, at least that situation is also definitely working against the overall mood and the sentiment of the market.
What could change? I think that is important. I guess always the wanting thing would be that participation coming from investors, which they do, however the derivative market which is played by one-sided game is definitely the root cause of the concern and that is where probably we are seeing the larger amount of pressure every time whenever the market has fallen.
So, maybe we are entering into a state of capitulation as I see it currently. If it does happen, then probably market will make a bottom somewhere in near future. Should that be, then probably the recovery would be expected somewhere in the subsequent period of time once it makes the panic bottom in the market.
If you look at it,
