Synopsis
When the underlying bias of the market has changed from bearish to bullish, then volatility should be used to enter the stock market. There is no point fearing volatility. One of the reasons why we are working with underlying bullish assumptions is the fact that, unlike the past when the market used to look at immediate quarterly earnings, the focus of the street is on Q3 numbers, rather than Q2 earnings. Now given the fact that a large number of companies are giving positive business updates and showing confidence, there is good enough reason to be positive. ET Screener, powered by Refinitiv’s Stock Report Plus, lists quality stocks with high upside potential over the next 12 months, and having an average recommendation rating of “Buy” or “Strong Buy”.
Thanks to GST rationalization and better than expected business updates and management guidance, bulls are also participating in the festive activity. That does not mean that profit booking moves will not come, they will surely come. But the underlying sentiment of the street has changed. What has indicated an underlying bullish bias despite the volatility? First is the largely positive market breadth. And second is the behaviour of the mid-cap
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