Stay invested, and buy more; there will be more legs to this rally: Varun Saboo
Varun Saboo, Head-Equities,Anand Rathi Shares, asks how does one assign a PEG to Nifty? Who decides that a 2 times PEG, a 2.5 times PEG is correct or even a 1.5 times is correct? Saboo says the way stocks are trading, if one has to give a similar kind of PEG to Nifty, which is upwards of 2-2.5 times, we still have enough and more room to go. So, he does not see any concerns right now and is advising people to remain invested, and buy more. He thinks the rally will have much more legs.
How are things at your desk? Are people keen to hang on? Are you advising them to trim profits or shift positions to areas that have not moved much? How is the activity? Give us a gist.
Varun Saboo: If you go back and see all of my commentaries, we have been quite on the positive side. We remain quite bullish on the markets. I have mentioned this before, I am reiterating this. So, one has to keep in mind that when we look at the markets, there is an element of fundamentals, how they are moving.
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Second, look at how liquidity is moving. If we talk about fundamentals, there is nothing better than our country. Today we are talking about our country where we will see at least a 14% plus odd nominal GDP growth. We are seeing every year analysts creating their earnings estimates. And since the last
