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Long-term investors should buy the coming dips, says Sandeep Bhatia of Macquarie Group

We expect another 10% correction in the market as India's valuation is still most expensive among emerging markets, We have a Nifty target of 14500

June 22, 2022 / 11:38 AM IST
Representative image

Representative image

Sandeep Bhatia of Macquarie Group in a CNBC TV18 interview on Tuesday advised long-term investors to buy the coming dip amid continuous fall in the equity markets across the world. For traders it will be a choppy or volatile year, he alerted.

Bhatia has been negative on the markets since last year and will stick to his negative stance. He predicted more corrections in the next three to four months. A turnaround is expected around the fourth quarter of this fiscal.

"We expect another 10 percent correction in the market as India's valuation is still most expensive among emerging markets. We have a Nifty target of 14500," Bhatia said at the CNBC TV18 interview. "If geopolitical tensions, inflation and higher crude prices continue for a longer period, then it will be very coercive for future growth."

Bhatia is cautious on mid-cap stocks and advises investors to stay away from these firms. "Mid-caps are best when major expansion in the economy and earnings growth is solid, commodity prices are lower and we are not in that market right now."