Why stock market expert, Sunil Kewalramani, expects a significant market correction in Indian and global stock markets in the next 10 days. Why this is not a market for new investors to buy stocks and why you should book profits for stocks that have run their course.
Edited Highlights
1:32 UK had a hung parliament and in US there is the testimony of ex-FBI chief, that is causing turmoil. What can we expect to see in the markets next week?
1:57 After UK election, stock markets have been alright for now but they have not read into the entire story properly
2:10 It is quite likely that in the future a Brexit hardliner like Boris Johnson may replace Teresa May
2:21 Brexit itself is going to tighten and get very complex
2:29 As far as India goes, there is froth gathering everywhere
2:38 Commentators argue that “this time it is different”
2:42 Stock market trajectory and earnings growth indicate accumulation of froth
2:49 There are farmer agitations going on in different parts of the country and they are gathering steam
2:58 GST is leading to a lot of complexities
3:26 This is not a new time for new stock investors to enter the market
3:32 This is a good time to clean up for people who are sitting on stocks that have risen quite dramatically
3:39 I believe we are about a week away from a good correction in Indian and global stock markets
3:54 There is also testimony going on in the US, with fingers being pointed against Donald Trump
4:02 This will create trouble in enacting legislation and disrupt the reflation trend which was responsible for the global stock market rally
4:29 In India, there is talk of Infosys founders selling their stake. This shows the amount of trouble faced by Indian IT industry
4:41 I am very surprised at seeing many people getting complacent about the stock markets. This is a good time to clean up your portfolio
4:54 This is an environment where if you have made some money, you need to get out for some time
5:00 I expect a good correction to come in the stock markets and it is about 10 days away
