Atul Suri expressed optimism for the medium term that there will be a 20% upmove in the next one year, provided the reforms push actually play out and India starts seeing an uptick in GDP growth as well as corporate earnings.
Atul Suri is betting on the IT shares to pull the index out from this underperformance. "If I had to put my heart and hat on the largest Overweight on any sector in largecaps, it would be IT," Suri said.
Atul Suri said he expects a period of sectoral churns in the Indian stock market, as leadership themes change. The trends that had been dominant in the past 2-3 years are slowing down, Suri added.
Suri expects a lot of focus on 10 new cities for manufacturing, which will benefit industrial activity and boost the capital goods and engineering sectors.
Suri is overweight on Midcap IT space and NBFCs due to niche consumer base and focus on technology of the former and price and earnings growth in the latter.
Market expert Atul Suri highlights how a rise in US bond yields can hinder the growth of Indian markets. He believes that the narrative of rate hikes bottoming out towards the year end may prove false.
Market veteran and trader Atul Suri is seeing strong signs of a global recovery in equities, led by India. He bets that there is still more upside on Nifty from current levels, and soft crude prices will sustain this rebound in world equities
While Suri expects a fresh upmove in US markets, however, it won't happen in the next few weeks, he said. It will take some time but it will recover their earlier highs, which will be phenomenal for global equities, according to the expert
Atul Suri of Marathon PMS Trends has a target of 21,000 on the Nifty 50 index, implying a potential upside of 22 percent from current levels.
"The fact is that even out there, there is so much bad news and that at some point I'm going to feel pressure so barring that if there's no collapse as such in global markets I think we are in for a fantastic run."
India has relatively outperformed global markets and there is lot of confidence in India’s underlying economy
The top play in the realty sector is Godrej Properties, according to Suri. It is one of the best quality stocks in which leverage is not very high. This is one stock I could own and sleep well, recommends Suri.
Markets across the globe have bounced backs from the lows of March 2020 and there is a synchronisation of global markets, Suri says, adding even though all markets are not bouncing equally.
A lot of stocks are looking attractive but I will wait for some stability. I would wait for some more consolidation in which 3-day low does not get violated.
"This is a good time to build your portfolio as money is flowing into Indian market. I would like to be fully logged in markets ahead of the Budget,” said Suri.
The reality is that no one can time the market; the important thing is to spend time in the market, says Suri.
When things stabalise in the market, these two stocks i.e. DLF and Godrej Properties could lead the next bull run, says Suri.
India market could see a bit of correction in the short term but the market has been correcting in the last one month even though Nifty rose in the same period.
The current year is looking more tougher for the market, Atul Suri of Rare Enterprises said adding that 7900-8000 will be the most crucial levels for the market. If 7900 breaks, Nifty could test levels of 7500.
Atul Suri of Trader Rare Enterprises is of the view that one may prefer Arvind, Exide Industries and PI Industries.
Following a steady-but-not-spectacular performance in Samvat 2072 (8.5 percent up for the Sensex), shares are again likely to post similar returns in the year ahead as a revival in consumption gives earnings a fillip, according to analysts.
India may soon get into the level of outperformance and the sectors that will lead the charts are consumer, FMCG and auto, says Atul Suri of Rare Enterprises, in an interview to CNBC-TV18.
With Nifty rising 17 percent and Bank Nifty falling 30 percent, banking has become one of the best opportunities to play from a long-term perspective in Indian market, says Atul Suri, Trader, Rare Enterprises.
Watch the interview of Atul Suri, trader at Rare Enterprises with Mangalam Maloo on CNBC-TV18‘s new show Weekender in which he discussed overcoming fears of scuba diving, transition from being a fundamental to a technical analyst and his take on investing.
Market expert Atul Suri says technical charts indicate that the CNX Midcap index could slide all the way to 10,000 in the short term. And while the downside in the Nifty may not be as severe, there could be a rub off effect of the downtrend, Suri says