Market weakness may continue for next 2-3 days: SKP Securities

Naresh Pachisia, MD, SKP Securities in an interview to ET NOW said that if there is no positive news flow actually, we can see the markets going down only on technical grounds also but from the support on this downtrend from coming from the falling foreign markets as well. However, its actually the right time for eagles to dare and get down with some good stock picking for medium to long term wealth creation.

On the kind of market close that we have seen, any final comments you would like to make?

Immediate the market is really very weak today and I am sure it will continue further weakness can continue for 2-3 days, I think margin calls are going to set bring it to that panic level as you mentioned it is just started we have seen the initial stages and if there is no positive very positive news flow actually in that case we can see the markets going down only on technical grounds also but from the support on this downtrend from coming from the falling foreign markets as well.

However, its actually the right time for eagles to dare and get down with some good stock picking for medium to long term wealth creation.