Q: What's your call on the overall market. We have seen it consolidate and pause for the last couple of days. Do you think it will take off again? Are you expecting a Nifty high soon?
A: Some weeks ago, we had said that the market would definitely form a new top and that was below 12,000 levels. We believe that at current levels, the market is very strongly poised.
We believe that the kind of growth the Indian economy is displaying is so huge that, today we are the second fastest growing economy in the world. We would definitely become the fastest growing economy in next two years. So we believe that India, as an economy, is being re-rated and in that space, the equity market would definitely get re-rated.
Still, the re-rating phase has just begun, as far as what we believe, in the entire equity market space. So we see a much bigger and higher level for the Sensex and the Nifty. Having said that, we believe that any major dip on some international issues or issues, which are not concerned with Indian economy should be an opportunity to buy rather than get out of the markets.
We would be foolhardy to again exit at these levels of the market. Of course, nobody lose money by booking some profits. But we are saying that one should remain invested at this level also.
Disclosure:
We would be interested, as part of the advisory group, in all the stocks that we have discussed.
