The house, from 18-36 months is positive on the market, so buy on dips, says Bharat Iyer, Head-India Equity Research, JPMorgan.
Bharat Iyer, Head-India Equity Research, JPMorgan thinks market is going through consolidation because valuations are demanding, market is going through an earnings downgrade cycle and the macro-economic indicators have peaked out, so there could be an element of mean reversal. The correction was not unexpected, he says.
However, the medium-term outlook continues to look good, says Iyer in an interview to CNBC-TV18 from the sidelines of JPMorgan India Investor Summit 2017.
Iyer says they have been advising their investors to buy on dips because from an 18-36 months perspective they are still positive on the market. However, investors should wait for a little more and look for a better entry opportunity, he adds.
He also prefers the largecap space over the midcaps.For more, watch video