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Q) India market has snapped two weeks of positive close and turned negative. What led to the fall on D Street especially when it started off on a bullish note?A) The rally past few weeks was a fear of missing out (FOMO) rally with bulls catching the bellwethers of each sector without the ground reality showing any improvement.And, on the downside, a decisive break below 8800 levels can take markets lower.Q) Do you think we are starting at another nationwide lockdown in June as cases with respect to COVID 19 goes up? If yes, what could be the impact on markets?A) As of now, it would be better not to speculate the worst. Cases are continuously increasing but a complete lockdown will have a huge impact on the economy.Dalal Street will also react accordingly because when the crux of the economy is bleeding, markets should not soar to new highs.Q) OECD sees 7 percent contraction in India’s growth if second waves hit India.

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