Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to open lower on Wednesday in more pain for investors. Globally markets are in a bit of a near term bear phase and in India the last few days have been really treacherous.

While people expect the market to rally because it is oversold, it is only a hope and not a data point. The market someday will rally but just because the market is oversold does not mean it will rally. Just like when the market remained overbought for so long, nobody complained about it.

Also, one cannot time short-covering even as many people are trying it in this market. One has to respect what the market is doing. Stay with the flow for now. Buying late in the market is always better than buying too early if you are a trader. If you are an investor, keep your SIPs, and buy good quality stocks.

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First Published:May 11, 2022 8:41 AM IST