Nov 29, 2016 04:31 PM IST | Source: CNBC-TV18

Nifty may head to 8250-mark, cautious on auto stocks: Experts

In the last hour of trade Tuesday, Nifty slipped to around 8150-mark, but Sandeep Wagle of powermywealth.com expects the index to bounce back. If it continues to stay above 8080, the index can inch towards 8250, he says.

In the last hour of trade Tuesday, Nifty slipped to around 8,150-mark, but Sandeep Wagle of powermywealth.com expects the index to bounce back. If it continues to stay above 8,080, the index can inch towards 8,250, he says.

Market expert Ashwani Gujral ashwanigujral.com says investor sentiment has changed and the view is now 'buy on dips' from 'buy on rally'.

Echoing Wagle's views, Mitesh Thacker of miteshthacker.com says the idea should be to buy on declines and market may be headed for 8250-8280-levels as long as it doesn't slip below 8,100 levels.

Speaking of demonetisation, SP Tulsian of sptulsian.com says rural NBFCs have strong potential and he continues to have a positive bias on the segment. NBFCs make a good buy and investors could look to book profits ahead of third quarter numbers, he says. He is cautious on auto stocks as demonetisation will have an impact on November sales for the sector.

Parag Thakkar of HDFC Securities believes consumer discretionary stocks which were beaten down due to demonetisation are a buying opportunity. 

Watch videos for more...

Sections
Follow us on
Available On