CA Rudramurthy BV on 3 sectors to watch out for in 2025
«So, for very short term, yes, from these oversold zones, you can expect a bounce. But eventually, from those higher levels, this market has turned into a sell-on-rise market and I am not bullish on this market, except for a short-term bounce, then again, this market will continue its downturn,» says CA Rudramurthy BV, MD, Vachana Investments.
Help us with your take on the benchmark indices, because it is Nifty 50 which is still below that 24,000 mark, as well as Nifty Bank is also trading in the red. So, do you expect some more recovery in the benchmark indices or we could just be consolidating in a tight range?
CA Rudramurthy BV: See, first of all, markets are highly oversold. So, from these levels of around 23,800 where you have the 200-day moving average placed, Nifty can definitely see a bounce. And similarly, Bank Nifty from levels closer to that 51,000-51,200, we can definitely see a bounce in both Nifty as well as Bank Nifty.
However, I am very clear, this market has turned into a sell-on-rise market. And especially on index level, any bounce from these oversold levels to closer to that 24,300-24,400 will again be sold into. And similarly, Bank Nifty, any bounce to those levels closer to 52,600 to 53,000, again we will see sell-off from those levels.
So, for very short term, yes, from these oversold zones, you can expect a bounce. But eventually, from those higher levels, this market has turned into a sell-on-rise market and I am not bullish on this market, except for a short-term bounce, then again, this
