Traders should stay out of markets; 8,000 on Nifty highly likely: Sandip Sabharwal

In a chat with ET Now, Sandip Sabharwal of asksandipsabharwal.com shares his view on how should investors positioned themselves in the ongoing market volatility.

ET Now: How would you approach trading or investments right now? Would you just stay on the sidelines and wait for the markets to find a natural bottom, before you start investing?

Sandip Sabharwal: One should stay out especially if you are trader because Nifty should fall to 8,000 at least, before settling down. The RBI needs to take measures to boost liquidity as even a repo cut may not help much. I the apex bank does not increase liquidity, then we might actually see lower levels on Nifty than expected Globally too, things are not looking as bright.

Therefore, I hope we can avoid a 2006-like meltdown. Hopefully, we can do that and if we do that, then 7800-odd should be the bottom for the market.