Experts Suggest “Buy On Dip” Strategy As Volatility Persists

Business Edited by Updated: Sep 15, 2023, 9:30 am
Experts Suggest “Buy On Dip” Strategy As Volatility Persists

Experts Suggest “Buy On Dip” Strategy As Volatility Persists

Benchmark Indices ended on Thursday with marginal gains amid volatile trading. Nifty was up 33.10 points or 0.16 percent at 20103.10 and Sensex was up 52.10 points or 0.08 percent at 67519.00. About 2302 shares advanced, while 1243 shares fell and 145 shares ended flat.

145 shares ended flat.UPL, Hindalco Industries, ONGC, M&M and Eicher Motors were among the top gainers on the Nifty, while losers were Asian Paints, Coal India, ITC, LTIMindtree and Britannia Industries.

Among sectors, Oil and Gas, Realty, Metal, and PSU Bank sectors rose 1% each, while FMCG ended marginally down. Bse midcap and Smallcap indices showed resilience gaining 1 percent each.

According to S Ranganathan, Head of Research at LKP Securities, market gained as Banks, Autos & Realty stocks showed momentum ahead of festival season. Positive macro-economic data also helped.

Ajit Mishra, SVP – Technical Research, Religare Broking sees crucial resistance at 20300 in Nifty, while 19800-19950 may act as support zones. Experts believe volatility may continue as bulls and bears fight for dominance and suggest buying on dips as the preferred approach.