Post the major economic triggers like the Brexit and RBI governor Raghram Rajan's bowout, the Indian markets have bounced back, and Atul Suri of Rare Enterprises believes that the inverse head and shoulders pattern of Nifty50 will get around 9100 levels soon. He added that despite the ongoing volatility in the global markets, he is optimistic with the way many Indian sectors have performed; EMs are gaining strength as opposed to the developed nations. "India may soon get to the level of outperformance and the sectors that will lead the charts are consumer, FMCG and auto," he said. "Pharma has been a disappointing space. In the last three months they have been the most underperforming sector after performing well for 3-4 years," he maintained. He is also bullish on gold and added: "After a great run-up it has a long correction. Gold is a defensive bet and a favourite among hedge fund managers."
0 comments:
Post a Comment