Buy now or repent by Diwali '12 when mkt sees new highs

Kirti Doshi, promoter of Antique Stock Broking suggests investors to start investing and pick stocks in October because the market may complete its downward journey in October. "Earlier bottoms also completed their journey in October," he added.

Doshi doesn't expect Nifty to break below 4,700 - 4,750 levels soon. "It may take another months but downside is very limited. If something large happens in the European countries it may lead further fall but would be short lived, the market would again bounce back to above 4,750 levels," he elaborated. By the end of this year Nifty is expected to cross 5,000 levels. "If commodity and crude prices remain where they are I will not be surprised if the market retests new high by next Diwali," he added. Also Read: Global markets to tank further in short term says StanChart Below is the edited transcript of Doshi's interview with CNBC-TV18. Also watch the accompanying video. Q: What is your sense of how would October shape up for the market because everyone is going in with so much pessimism and expecting the worst? A: I expect the market to complete its downward journey in this month which started last Diwali (November 5). Earlier bottoms have also nearly completed their journey in October. This is a month where one should start investing, be a bit aggressive and start picking your stocks. Q: What is the downside risk, is it the 4,300 mark that a lot of traders are priming themselves for or do you think the market actually has the potential to breakdown to 4,000? A: I don