A lot of the recent action is due to what we are seeing in global markets as well. So, I am not sure how much of it is solely related to the upcoming elections. However, there is some short-term risk if we close below, say, 22,550, where we are right now.
On a one-day basis, the market would go the other way if the numbers are not meeting expectations and so till the actual numbers really come out, markets would remain jittery, that is the main point.
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Rohit Srivastava discusses VIX decline, NDA and standalone numbers, global bond yield risks, and positive metals sector outlook. Market rebounds despite US bond market concerns. Telecom sector not favored for investment due to performance.
Rohit Srivastava says: “I have remained cautious on the metal side even though it has done well, simply because of other macro trends that usually keep us on the right side. I am simply observing what is happening on the metal side. But I think there could be an opportunity on the tech side in the weeks ahead.”