Harendra Kumar of Elara Capital believes if the market continues to stay higher, long-term investors and traders will look to book profits and the market will go into a consolidation phase.
The US Federal Reserve event has only been postponed by 2-3 months and the dollar strength is here to stay, is the word coming in from Harendra Kumar, head of institutional broking and global economy at Elara Capital.
He believes if the market continues to stay higher, long-term investors and traders will look to book profits and the market will go into a consolidation phase.
According to Kumar, the market will once again become a buy once the Nifty hits 8400-odd levels. He recommends investors to sell on every rally.
Inflows into India can remain flattish, he says and hence is worried on financials in the interim.
Kumar says the resumption of mining activity is a big positive for the Indian economy. He is bullish on Sesa Sterlite due to resumption on mining in Goa.
He says currency tailwind stocks, such as tech is the space to be. He is infact betting on tech to lead the next rally.
He believes some of the companies that have already done well such as Tata Communications and some of the other Tata companies will give good returns. He expects some of these Tata companies to even outperform the Nifty.
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