Nifty 50 sees significant correction in October; should you chase value or growth stocks in this market?

livemint.com:

Crude oil deficit to high inflation: How can the Israel-Hamas war impact Indian economy? — Explained (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The market is expected to remain on a bumpy track in the near term even though the long-term outlook remains strong because of India's strong economic growth potential.

Also Read: India set to overtake Japan as third-largest economy by 2030: S&P Global Nishit Master, Portfolio Manager at Axis Securities PMS expects the markets to remain volatile on the back of growing geopolitical tensions in the Middle East, high crude oil prices and persistently high interest rates in the developed world. "All these risk factors combined with higher-than-average valuations, especially in the small and midcap space, could lead to pain in the markets in the short term," said Master.

Ashish Chaturmohta, Fund Manager, PMS Strategy - Apex, JM Financial Services pointed out that there are two key events for the markets- 5 state elections on the domestic side and global uncertainty at the macro level. Hence, markets would be in a corrective phase followed by consolidation, subject to global uncertainties not escalating beyond a point.

"Technically speaking Nifty has strong support around the 19,200 level but since weakness in global markets increasing and global volatility is shooting up. There is a strong likelihood of 19,200 breaching which could result in some technical selloff in the short to medium term.