Book profits from time to time as the market may not be able to sustain higher levels going forward, says Upendra Kulkarni of Fortess Financial, on CNBC Awaaz. A US stimulus package is expected to be announced tomorrow and the Indian market will continue to trend as per global markets, he feels. But this continues to be a bear market with some rallies, he adds.
House View: The market has rallied from 8700 to reach 9600 levels, this is in expectation of the US relief package, even if the package is positive, it will not result in immediate U-Turn of the economic downslide. Market is moving on international trends but these are unclear and volatile. The reality of Indian market are
1.An interim budget and
2.Forthcoming elections which will throw up a coalition govt. again.
In this scenario the market cannot take an upward direction for a sustained period.
We would advise to move out of whatever stocks can be sold and re enter when situation is clear in next 2-3 months.
Disclosures: No personal holdings
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