Nifty likely to hit 24,000-25,000 by next Diwali, says Vinit Bolinjkar of Ventura; advises adding 10% gold to portfolio
Vinit Bolinjkar, Head of Research, Ventura Securities, sees the Nifty around 24,000-25,000 by next Diwali, which implies a 24-29 percent upside. For Muhurat trading, he advised investors that rather than focusing solely on the share price, it's important to evaluate the company valuations and the potential for future expansion and growth prospects. A decent allocation of 10 percent of the portfolio in gold provides stability, he added.
Edited Excerpts: Our Nifty target for the next Diwali is 24000-25000, which is around 24-29 percent upside from the current levels. The inflow of capital into emerging markets, along with a positive shift in India's economic prospects, are the primary catalysts for this anticipated growth. Our advice is to allocate investments into stocks with solid fundamentals and robust corporate governance.
Rather than focusing solely on the share price, it's important to evaluate the company's valuations and the potential for future expansion and growth prospects. We are bullish on infrastructure, pharma, consumption (FMCG & consumer durables), engineering & capital goods and PSU banks. These sectors are expected to do well and outperform the broader indices.
As mentioned earlier, we see a strong upside of 24-29 percent in Nifty and this rally is expected to be driven by infrastructure, pharma, consumption (FMCG & consumer durables), engineering & capital goods and PSU banks. Given the robust fundamentals of Indian firms and the Indian economy, it's always an opportune moment to invest in the Indian stock markets. Invest in fundamentally sound companies and buy on dips to average your positions.
Gold is a global asset and a safe haven for investors. It works as a hedge against the global volatility. A
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