As Nifty and Sensex dropped nearly 6% following election results, investor Sushil Kedia suggested the banking sector has peaked. He expects Nifty to move between 21,000 and 23,000 for a while.
Kedia’s Strategy
Kedia recommends focusing on fast-moving consumer goods (FMCG) and small IT firms for their earnings stability. He advises moving away from financials and public sector undertakings (PSUs), which he believes have topped out.
Market Insights
Kedia noted that large market drops often remove weak investors, setting the stage for a rally. He warns against a broad bearish stance and emphasizes the importance of sectoral shifts.
Sectoral Opportunities
Kedia sees potential in FMCG and IT sectors amid market volatility. He suggests exiting defense and PSU stocks on any rallies and highlights opportunities in media and mid-cap pharma sectors.
Future Prospects
Kedia advises caution with large-cap pharma stocks but supports mid-cap pharma for growth. He also sees potential in real estate and cement sectors once the market stabilizes, depending on the new government’s policies.
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