The markets in the second half on Wednesday slipped, volatility was back to haunt the D-Street. Major indices saw some wild swings and ended with the Nifty giving up 10,000 level ending down 32.15 points at 9,984.80 and the Sensex closing below the 50-day moving average, down 90.42 points at 31,833.99.
Market expert Anand Tandon says if one is an index player then it is an overpriced market and one should not be in it. Otherwise, as long as you get opportunities to buy in different sectors, one shouldn't worry too much about market direction. Some of the new sectors like chemicals have come into the fore, so one can look at that, he says.
For investing from a longer-term basis, if investment were to see a turnaround then one could look at sectors like cement, smaller capital goods companies and some of the midcap pharma on back of a weaker rupee.
Ashwani Gujral of ashwanigujral.com is of the view that the fall seen in the market is likely to continue tomorrow.
Meanwhile, Prakash Diwan of Altamount Capital Management says that never ever rush into buying in results season. It is best time to identify companies that one likes but not buy. There will be ample opportunities available in the next 35-40 days to accumulate.
Mitessh Thakkar of mitesshthakkar.com and SP Tulsian of sptulsian.com also shared.For the entire discussion, watch video