Reaction from Mr. Aamar Deo Singh, Head Advisory, Angel Broking Ltd on today's market move

"Markets witness a major selloff today, with benchmark indices Nifty & Sensex, down by over 5%. Global markets too have collapsed today, as the fears of the coronavirus, held sway across the globe. Unprecedented action was seen in Crude Oil as well, with prices falling by over 30% in a single day after Saudi Arabia threatened to hike output after a disagreement with Russia. Markets should come around in the coming weeks, once the impact analysis of the extent of damage to the global economy due to the coronavirus is known. And looking back at history, markets also have had the tendency to overreact at times. Nifty is down by over 15% from its all-time high, with 10,000 to act as a crucial and psychological support level. However, don't try to catch a falling knife, wait for the market to settle, before stepping in to buy value."

Source : Equity Bulls

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