Market Outlook: Talking about further market movements Anirudh Garg, Partner and Research Head, INVASSET PMS Said that technical indicators had started showing weakness for a long time. This is the reason why we are doing business in cash again. Because we are not getting as many positive signals from the market as we were expecting. If we compare the markets around the world (Cospi, Dow, Nasdaq) with the Indian market, then except Nifty, there is no strength anywhere in the broad indices in India. Momentum has just disappeared from the market and it is not able to last. Non-sustainability of momentum in the market creates space for correction. I believe it is better to buy when the market is falling.
bank sector good
Talking about banks, he further said that the private bank sector is not bad. I believe that whatever sector you find better for investment, you can invest in it with a perspective of 1.5 to 2 years (long term). Because sectoral corrections are coming. I believe that public banks, private banks, real estate sector all are good.
IT will come into value zone after some further decline
Giving his opinion on the IT sector, he said that if there is a little more correction in IT from the current level, then this sector will come in the value zone. Whatever bad news there was has been discounted in the sector. However, we do not currently have a position in IT as we have once again gone into 100% cash. But if IT goes into value zone then we will definitely invest in the sector.
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