According to market experts, aggressive interest rate hikes by the US Federal Reserve and the Reserve Bank of India (RBI) to curb inflation have sparked fears of a recession and ruined stocks.
Raising interest rates in the United States also creates a great opportunity, in addition to the stock market, others markets as debt and bond markets may also see FII leaks soon in India, he said Ravi SinghVice President and Head of Research, ShareIndia.
“In this momentum, Exquisite sales may continue to reach 14,800 levels in the coming trading days, he added. Investors must wait for new positions to enter and watch for sentiment.
Geopolitical tensions, global adjustment, rising commodity prices, disrupted supply chains, leakage of FIIs, high inflation and weaker rupees are among the main reasons that have led to a sharp erosion of market wealth recently.
According to Singh, both indices may show some recovery around their first support. “However, this would not be sustainable,” he warned.
Nifty50 support levels are 15,100 and then 14,800, while 15,600 and 15,800 will act as resistance levels. On the other hand, 32,200 and 31,700 are areas of support for Nifty Bank, with resistance at 33,450 and 34,200, Singh said.
Heavy-duty indices, including metal, IT and finance, remain the weakest. Most sector indices went down sharply, reaching their lowest levels in a year.
“Rising inflation figures due to supply disruptions caused by the war in Ukraine and Russia weigh on metal prices, affecting operating margins and profit growth by putting metal meters under pressure,” said the head of research at ShareIndia.
“IT stocks are witnessing sales pressure as margins have fallen due to supply pressure,” he added. “The combination, higher inflation, higher interest rates and the sale of FII have led the banking sector to its worst performance.
However, it offers several value-seeking sectors at the moment. He said fast-moving goods, IT and the gas sector could be viewed from a long-term investment perspective.
,,,,,, Bharat Electronics, IEX and have been at attractive levels for a long time.
He also offered a brief
(Naukri), and in the current market darkness.
Benchmarks do not show any signs of recovery any time soon, and any recovery in the trend is not sustainable, market experts suggest. In this scenario, investors need to follow a strategy of waiting and monitoring.
Investors can invest 40% of their investments at current levels, while the remaining 60% are close to 14,800 levels. “Existing investors may have to wait for lower levels to average their positions,” said Singh of ShareIndia.
Market participants suggest that long-term investors should stick to a solid foundation and not worry about short-term volatility.
Among the counters on the second step, Singh sees a good opportunity for investors to make money. Adani Power,
Ambuja Cement, IEX, MCX and BSE are some stocks with good returns. ”
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. They do not represent the views of the Economic Times)