Sandeep Bhatia, Exec Director & Head-Sales at Kotak Institutional Equities told CNBC-TV18, "We should position ourselves for the market correction right now. In the near-term I would think the market should again head to around 8,200-8,100 at least. A good correction market is actually welcome by anyone who is tracking the fundamentals of this market because that would take some froth off."
"First position yourself for corrections in this April-May season. Once the results season is behind us, look at defensives. It is going to be probably tech which will come back in flavour and also some non-banking financial companies (NBFC) and banks. Axis Bank offers a good opportunity at current level too. LIC Housing Finance has also a good steady business, we saw good numbers coming through. So, these are some of the names in financials and tech where you can take a position expecting a 15-20 percent kind of appreciation till the end of the year," he said.
"Right now we need to wait. If it is in the capital goods or industrial space or the mining metals space, we will probably have to wait till September to take a call on those sectors."
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