Rally in PSU stocks not over; we have completed one and entering another phase: Gaurav Bissa
Gaurav Bissa, VP, InCred Equities, says, “going forward, largecaps, especially larger banks like Kotak Bank and HDFC Bank will drive the markets going forward. So, the view remains positive. It is a buy-on-declines market. But the kind of move that we have seen from lower levels of 15,000 to higher levels of almost 22,000 that might not get repeated. But the overall sentiment will remain positive.”
With 2023 coming to an end and markets gaining close to around 20% in this calendar year, what is your target for 2024 for Nifty?
Gaurav Bissa: Our targets for mid-2024 were 21,000-21,500, those have been surpassed ferociously in 2023 itself. And now, I do not see we can have a similar kind of upside where in six months we can have 2,000-3,000 points coming in, even more than that. But yes, more towards 22,500 cannot be ruled out on the higher end. 20,000 is where Nifty can head towards. And largecaps will now take a front seat at least for next few months, where we have seen a very robust upside in midcaps and smallcaps.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitIndian School of BusinessISB Chief Technology OfficerVisitIIM LucknowIIML Chief Executive Officer ProgrammeVisitSo, going forward, largecaps, especially larger banks like Kotak Bank and HDFC Bank will drive the markets going forward. So, yes, the view remains positive. It is a buy-on-declines market. But the kind of move that we have seen from lower levels of 15,000 to higher levels of almost 22,000 that might not get repeated. There is a very slim chance of doing that. But the overall sentiment will remain positive.
And what about the broader markets? They have given
