NSE Nifty 50 index might have hit backside at 15200, and now it seems set for a ten per cent upside by July finish, to maneuver in direction of 16700-16900, Sanjiv Bhasin, Director, IIFL Securities, stated in an interview with Surbhi Jain of FinancialExpress.com. Bank Nifty may reclaim 35000 ranges. Owing to month-to-month F&O expiry on Thursday, thirtieth June, Nifty is more likely to witness excessive volatility and commerce in 15600- 16200 vary. Sanjiv Bhasin additionally really useful a number of sectors and shares that may be picked in a falling inventory market situation to pocket positive factors. Here are edited excerpts from the interview.
What are the important thing themes to take a position amid the present market situation?
key themes to take a position amid the present market situation could possibly be auto, banks, infrastructure & IT, as contrarian with weak Rupee serving to margins & steering from Cognizant indicating no slowdown in IT budgets.
With BSE Sensex, NSE Nifty down over 10% every on YTD, is it time to purchase?
Yes, as most dangerous information within the type of larger bond yields, spike in crude oil & commerce imbalances attributable to Russia-Ukraine struggle are getting priced in.The possibilities of recession within the US have a 50:50 chance however Indian shares appear to be in the most effective form as consumption spending, elevated capex growth & credit score development from banks all appear headed north.
Where do you see Nifty 50 and Bank Nifty in close to to medium time period?
Near time period as indicated final week we might have hit backside @ 15200 & look set for a ten% upside by finish July in direction of 16700-16900 on the Nifty whereas Bank Nifty may hit 35000.
What are the important thing ranges to trace in Nifty 50 this week?
Due to expiry of contracts for derivatives this Thursday anticipate larger volatility with 15600 to 16200 being the vary.
At present ranges, are we in a risky market or a bear market?
Volatile in Indian context as Nifty finds very sturdy assist round 15200 with mid caps seeing a bear market however wanting set to rebound from it. Auto sector is hitting recent new highs with shares like Mahindra & Mahindra (M&M), Ashok Leyland & Maruti Suzuki India buying and selling @ 18000 index ranges whereas IT shares buying and selling decrease by over 25% from January highs
How to choose shares in falling markets?
Pick the winners like auto, choose banks & IT as valuations change into engaging. Some suggestions for the following 2 months can be SBI, ICICI Bank, L&T, Persistent Systems, HCL Technologies & Aarti Industries.
Source: www.financialexpress.com”