Moneycontrol
Last Updated : Mar 28, 2018 05:27 PM IST | Source: CNBC-TV18

Time to buy bluechips like ITC, Dabur, HUL; avoid Fortis Healthcare, says Baliga

Ambareesh Baliga is of the clear belief that it is time to start buying. “Buy in small quantities; it is time to buy bluechips like ITC, Dabur, HUL,” he said.

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Weak global cues and expiry day jitters play spoilsport on Dalal Street with the Sensex going below 33,000 in the March series. Both Sensex and Nifty losing over 2 percent.

However, market expert Ambareesh Baliga is of the clear belief that it is time to start buying. “Buy in small quantities; it is time to buy bluechips like ITC, Dabur, HUL,” he said.

He also warns that over the next couple of weeks markets could trend lower because it is a sell on rise kind of market. If the Nifty goes below 10,000 then we could see levels of even 9500-9600 in couple of weeks that should be the time to get fully invested.

Over the longer term there is earnings recovery and there is also possibility that with the e-Way Bill the GST collections would improve.

“Overall things are not looking bleak and at Nifty levels of 9500-9600, it would become fairly priced,” said Baliga, adding that liquidity is still there and at the right price people would come back.

With regards to jewellery space, he said because of the Nirav Modi issue, the only company that would benefit would be Titan Company other companies could suffer.

He is not very upbeat on Fortis Healthcare now.
First Published on Mar 28, 2018 05:20 pm
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