Street signs: Sell in May and go away, expiry of pre-IPO lock-ins & more

The broking community is on the edge as the new penalty structure on intraday margin shortfall comes into effect on May 2

The jury is still out on whether the Wall Street adage of ‘sell in May and go away’ will be applicable this month. With the National Stock Exchange Nifty nearing its resistance zone of 18,100, following a strong upmove in April, some believe it is prudent to take some money off the table. However, there is a section which believes investors should look to buy the dip as the market will remain trending upward, with some hiccups along the way. “May has been a turbulent month 50 per cent of the time over the past two decades. However, investing in