Use the coming market correction to buy; added 3 stocks in last 2 weeks: Sandip Sabharwal
Sandip Sabharwal, asksandipsabharwal.com, says people who are buying speculative stocks at this stage should be a bit careful. But I do not see a very deep sell-off in the sense that it is not going to be a 10-15% kind of correction. A moderate correction will give opportunities to buy. Overall equity outlook is still constructive.
What has been keeping you busy apart from enjoying a break from the markets?
Markets are very interesting in the sense that we have seen, again, a break in correlation of Indian markets with the global markets, which happens but it does not sustain. So, that is something we need to watch out for. The result season went and came and went and I think to that extent, all of that got factored in.
Now, there are some concerns related to valuation, the impact of monsoon not being as good etc. But overall, my base case view always was that October-November will be the time when we should see some sort of correction in the market which should happen because the rise in the midcap indices has been quite euphoric. Typically that has to be followed by some sort of correction
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So to that extent, people who are buying speculative stocks at this stage should be a bit careful. But I do not see a very deep sell-off in the sense that it is not going to be a 10-15% kind of correction. A moderate correction will give opportunities to buy. Overall equity outlook is still constructive.
The G20 spectacle seems to be quite a feather in the cap for India being and
