2018 is going to be undeniably a stock pickers’ year: N Jayakumar

The index is not going to give you much joy in the current year if you are a bull. If you are a trader as well, there will be very sharp moves in the range of 9,800-10,000 on the low to maybe 10,500-10,600 on the way up. That is the 5.7 percent range we will be traversing, N Jayakumar, President of Prime Securities told CNBC-TV18.

This is going to be undeniably a stock-pickers’ year. This is the time when everything has been painted with the same brush barring a few, he added.

There is madness in several parts of the market still notably the initial public offering (IPO) space and one of the first casualties into the next few months to my mind will be the IPO space, said Jayakumar.

A lot of the money that got invested in the markets by individuals went into the primary market and I think that supply needs to get quenched quite dramatically for the secondary markets to feel that there is juice flowing into them as well, he further mentioned.