Indian bull market not peaked out, use all dips as buying opportunity: Gautam Shah

economictimes.indiatimes.com:

«Honestly, in percentage terms, it is a 1% dip. We are so used to seeing a 100-point move on the Nifty being such a big thing, over the last decade that these days 200 points is basically close to a percent,» says Gautam Shah, Goldilocks Premium Research.The market first hit a pause button. And yesterday, for the first time after a gap of almost four-four and a half months, it did show signs of some reversal. How should one read into the recent price action? I think it is quite normal.

Honestly, in percentage terms, it is a 1% dip. We are so used to seeing a 100-point move on the Nifty being such a big thing, over the last decade that these days 200 points is basically close to a percent. So, I do not think from that standpoint, it was really anything significant.

And I do believe that the bull markets have this beautiful ability to keep scaring from time to time. You know, having seen the 2003-2007 bull market, something similar used to happen, because you used to see a large move-up, then a bit of a give-back, and then new highs. So, I think this is a very normal correction which took place from that euphoric round number of 20,000.

It just keeps happening all the time. And somewhere in this 19300-19500 area, the market has a lot of support. I do think that we will stabilise somewhere here and possibly turn around.

And everyone seems to be talking about this news flow from the US. Honestly, if you really connect the dots and look at the news flow and look at the charts, you just feel that all of it is quite discounted. And I do not think the market is going to give it so much importance.