The S&P BSE Sensex and Nifty50 hit a fresh record high on 26 November, but taking a contra view Sushil Kedia who is the founder of Kedianomics in a special podcast with Moneycontrol cautioned investors that the index could well head towards 10,000 before resuming the rally on the upside.
“The new highs are not always a point to celebrate and markets are acting wise without that sense of jubilation. We are cautioning our clients that there could be a possibility of Nifty50 slipping towards 11,500-10,000 which translates into a fall of 8-17% from record highs in the next 12 months,” he said.
Kedia emphasized that the small & midcap indices which are down by about 20 percent from their respective highs could still go down by another 30 percent, but the headline index may not go down below by more than 20 percent.
Tune in to the podcast for more.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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