Mkt to be volatile ahead, buy on sharp corrections -
July 2nd, 2012
The Sensex gained over 430 points on Friday, posting its biggest closing gains in the year 2012 as global markets rallied quite sharply after European leaders agreed to take emergency action to bring down Italy's and Spain's spiraling borrowing costs. The Nifty rose around 130 points to end at 5,278.90 on Friday.
It is not likely that we are going to just take a step and reach 5,400 or 5,450. So from now onwards, I am assuming that markets will be much more volatile and that means we will see downside moves also. The idea is to buy only on sharp corrections and not rush into a gap open.