Nifty 8,200 possible but earnings to prevent deeper correction

Varun Goel of Motilal Oswal AMC prefers to carry on buying into quality stocks with focus on earnings growth, while Ashwani Gujral of ashwanigujral.com says only 50 percent of the likely correction is through.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney master your money IThe Winning Leap SME Special
Moneycontrol

Home » News » Markets » MARKET OUTLOOK

Oct 17, 2016, 09.13 PM | Source: CNBC-TV18

'Nifty 8,200 possible but earnings to prevent deeper correction'

Varun Goel of Motilal Oswal AMC prefers to carry on buying into quality stocks with focus on earnings growth, while Ashwani Gujral of ashwanigujral.com says only 50 percent of the likely correction is through.

Like this story, share it with millions of investors on M3

Nifty 8,200 possible but earnings to prevent deeper correction

Varun Goel of Motilal Oswal AMC prefers to carry on buying into quality stocks with focus on earnings growth, while Ashwani Gujral of ashwanigujral.com says only 50 percent of the likely correction is through.

Post Your Comments

Share Cancel

Varun Goel (more)

, Motilal Oswal | Capital Expertise: Equity - Fundamental

The Nifty today fell 63 points, closing below 8,550, further cementing the notion that the ongoing correction is part of a deeper fall in the Indian equities.

In an interview to CNBC-TV18 in its Closing Bell segment, technical analyst Ashwani Gujral of ashwanigujral.com said the Nifty is now headed towards 8,400, its immediate target -- even as he added that the downtrend was unlikely to stop before the index reaches 8,200.

"The Nifty has broken 8,550. 50 percent correction is over (from the peak of 8,900), another 50 percent is still left. Short sellers should maintain their positions," Gujral said.

But, fundamentally speaking, markets look good for those having a long-term horizon, said Varun Goel of Motilal Oswal AMC.

"A correction of 5-6 percent can happen in the market anytime," he said, adding, strong earnings pick-up in FY17 and FY18 would prevent stocks from falling more.

Goel expects earnings growth of 10-15 percent in FY17 and even better in FY18.

"I would prefer to continue to buy quality stocks with a 3-5 year perspective," he said.

Watch video for more.

Buy, Hold, Sell ? Hear it first on M3
Nifty 8,200 possible but earnings to prevent deeper correction

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login