Continue to remain cautious on market: Sushil Kedia of Kedianomics
Sushil Kedia, founder of Kedianomics, on Tuesday said he continues to remain cautious on the market and will act only on signals.
Sushil Kedia, founder of Kedianomics, on Tuesday said he continues to remain cautious on the market and will act only on signals.
He said risk appears to be lowest when it is going to hit us hardest.
"In 14 trading sessions, the Nifty went up only 350 points, but in the prior 9 sessions, it went up 1,000 points. So, momentum is seriously divergent in the market. I as a trader will always keep a greater eye on momentum. In case the market starts moving up rapidly again, then I will buy into these new highs," Kedia said.
From the IT sector, Kedia recommended a 'BUY' on HCL Technologies. However, he advised 'SELLING' Coforge. On Tata Power, he said, "It is time to add more longs on it. Maybe with a stop of Rs 62.5, it could go all the way to Rs 90 even while I remain cautious on the Nifty and the Bank Nifty."
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(Edited by : Jomy Pullokaran)
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