3 sectors CA Rudramurthy BV is bullish on for next one year
«I do not see more than 3% to 5% kind of a price correction. But, however, in terms of broader market, we might see some more amount of correction and valuation comfort to still emerge,» says CA Rudramurthy BV, MD, Vachana Investments.
After 100 points move on the upside that we had seen on Friday, again, markets are down around 100 odd points, how is the Nifty charts in fact looking like on the technical front.
CA Rudramurthy BV: For me if you take a medium to longer timeframe horizon on market, we have seen already a very-very good rally and now we should see some amount of time-wise correction and that will be very healthy for markets for medium to longer timeframe.
And I feel Nifty and Bank Nifty can even correct 3% to 5% from current level and on a very broad thesis, I feel Nifty at around 24,000 and Bank Nifty at around 49,500 offers a very-very good support and a very long-term strong support and at these levels, definitely one can pick up stocks.
So, I do not see more than 3% to 5% kind of a price correction. But, however, in terms of broader market, we might see some more amount of correction and valuation comfort to still emerge.
And if you see geopolitical tensions around valuation being a concern and also crude oil prices inching up because of these geopolitical tensions, US election round the corner, so all these things tells to me these are times when you have to stay in market, be in the game to win the game, and do not try to make too much money as a short-term trader during these phase.
Stock
