We are seeing our benchmark indices correcting for the past 3 days in a row and still our valuations are very high that indicates we have some more downfall to see in the coming week.Most probably this downfall will go on till the budget comes with some consolidation and rebounces but this correction must be over by Feb end where we will be able to see fresh buying. Nifty may go to 5330 levels from here on soon after a rebounce to 5700 levels.
Among all the sectors,sectors which have high valuations and those need correction are IT,Metal and Pharma. Among IT you can have bearish view in HCLTech and Infosys,Metals: Hindalco,Sterlite,TataSteel; and among Pharma you can have Lupin,Dr Reddy,Sun Pharma.
Sentiments are still negative for indian markets and will remain so till the inflation concerns get over and we have some stability in price levels.FIIs are also selling and Jan has become the first month in last 7 months where it is net selling and this shows that they are taking out their money from Indian markets.Moreover US,Brazil & Chinese markets are improving so there is a possibility of money flow to these markets.
Among all the sectors,sectors which have high valuations and those need correction are IT,Metal and Pharma. Among IT you can have bearish view in HCLTech and Infosys,Metals: Hindalco,Sterlite,TataSteel; and among Pharma you can have Lupin,Dr Reddy,Sun Pharma.
Sentiments are still negative for indian markets and will remain so till the inflation concerns get over and we have some stability in price levels.FIIs are also selling and Jan has become the first month in last 7 months where it is net selling and this shows that they are taking out their money from Indian markets.Moreover US,Brazil & Chinese markets are improving so there is a possibility of money flow to these markets.
