As a net result of this referendum worldwide over $2.1 Trillion of the wealth has been lost in a single day. Have a look at area vise Britain guys who want to stick European union and leave.
Another problem which comes along with it in bonus is Scotland issue who want to stay in European Union and had endorsed the union with UK through referendum. However now it will raise its head again for fresh referendum whether to stay with Britain or not.
So, as traders we need not panic as situation is not that bad as was during Lehman Brothers crisis. Thus all those brave hearts can do the cherry picking. Tata motors, Tatasteel and all those companies with more exposure in UK need to be avoided in the short term; however remember that these companies are best for long term investment and these opportunities provide an opportunity to enter at reasonable price. Tata Motors’ shares went down by 8.25% due to the Brexit poll results. Tata Motors generates more a majority of its revenue from their British unit Jaguar Land Rover (JLR). In 2014-15, JLR contributed 83.2% to the total automotive revenue. Companies with a lot of exposure to Britain are likely to be impacted due to currency fluctuations.
However Indian market has recouped its losses on Friday and some intelligent traders are buying in the market when there is blood on the street. So do your cherry picking of the stock but remember to use the stop loss always and every time and make use of intraday volatility by trading with our hot stock of the day and sit with profit every day.