Atul Suri has this target for the Nifty 50 index for the next Samvat

Suri derives this opinion as benchmark indices are within touching distance of scaling previous peaks. The market began Samvat 2079 on a positive note, gaining for the seventh day in a row to end at the highest level in a month.

He is of the opinion that stocks that fall less during a falling market are leaders of the next bull market. Over the last Samvat, the benchmark index declined 1 percent but managed to outperform most of its peers.

Suri recently turned bullish on Capital Goods stocks which he believes is signs of a bigger industrial play.

His sentiments have been echoed by a few brokerages as well. Recently, DAM Capital upgraded BHEL after 54 quarters and assigned a potential upside of 66 percent from those levels.

Among other sectors of his preference, Suri highlighted industry facing banks and Specialty Chemicals that are likely to do well. He also reiterated his overweight stance on the defence stocks.

Despite the stocks nearly doubling or even more during the last Samvat, Suri believes that there are still some stocks within the space that are cheap and will do well as countries are realizing the need to become self-sufficient in defence, especially after the Russia-Ukraine crisis.

Other Key Takeaways:

• Commodities playing out the way they are make me bullish


• Swing will take place towards more actively managed funds from passive fund management


• Themes are turning out to be more domestic-focused compared to global
  Portfolios are realigning as IT & Pharma, which dominated 2020-21, are now underweight