Moneycontrol
Oct 19, 2016 04:38 PM IST | Source: CNBC-TV18

Good time to buy on dips, Nifty hurdle seen at 8,700: Experts

The rally in the indices on Tuesday has instilled confidence they have regained strength and market expert Ashwani Gujral of ashwanigujral.com feels there is no question of shorting now as it is a 'buy on dips' market.


The rally in indices on Tuesday has instilled confidence markets have regained strength and market expert Ashwani Gujral of ashwanigujral.com feels there is no question of shorting now as it is a 'buy on dips' market.


Speaking to CNBC-TV18 in its Closing Bell segment, Gujral notes 8,700 is posing a hurdle for Nifty, which once crossed will take the index at least up to 8,800-8,850 levels.


Fundamental triggers like possible reconciliation of the Goods and Services Tax (GST) council on rates and growing assurance that the implementation will be done as scheduled in April will provide a stimulus to the market, says Prakash Diwan of prakashdiwan.com.

Among sectoral trends, Neeraj Deewan of Quantum believes auto ancillary stocks seem to have already priced in the earnings for this quarter.  He is now focussed on consumer discretionary companies that will benefit from a good monsoon.

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