Sandip Sabharwal of asksandipsabharwal.com says credibility of guidance forecast by technology companies is waning and PSU banks might find it difficult to raise money from the market.
The Reserve Bank lowering repo rates was a significant move from a market point of view, but despite that the markets sold off heavily that day. Sandip Sabharwal of asksandipsabharwal.com believes it might be a difficult level for the market to cross.
He was also surprised by the way the markets moved after the earnings disappointment, but attributed it to foreign investors.
He believes technology and PSU banks can drag the market lower. He says credibility of guidance forecast by technology companies is waning and PSU banks might find it difficult to raise money from the market.
On the other hand, he says pharma companies, despite the run-up in some of the stocks, may be a good place to hide. He feels these stocks won't see much of an impact even in case of negative market moves. However, he adds these stocks might be a good bet from a stability point of view, but may not see much appreciation.
Going ahead, Sabharwal sees interest rates trending lower in April and feels that good companies with large debt might benefit. He feels Sintex and Jain Irrigation might see gains.
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