Motilal Oswal recommends 'Bruised Blue Chips' for investors seeking high returns with minimal risk, highlighting their resilience and strong recovery potential.
The current correction could be a dip one but it is still a correction in the bull market and so please do not get out of blue chips stocks, says Sudarshan Sukhani.
Beijing, which has struggled for more than a week to bend the market to its will, unveiled yet another battery of measures to arrest the sell-off, and the People's Bank of China said it would step up support to brokerages enlisted to prop up shares.
MSCI's broadest index of Asia-Pacific shares outside Japan wallowed at its lowest level since February 2014, extending its early losses after Chinese shares opened sharply lower. It was last down 2.7 percent.
Taher Badshah, Sr. VP & Fund Manager Motilal Oswal Asset Management Company is not too positive on the Indian banking sector due to sluggish growth and asset quality concerns.
The market benchmark appears set to end 2013 on a positive note with a modest gain of over 7 per cent, but such gains are not to be seen in a majority of stocks available in the market, which predominantly include those of mid-size and smaller companies, shows an analysis of various indices.
Coming week is most crucial for the market because of the run up to the Union Budget. On Thursday, Nifty after hitting the lowest level of 2013 on Thursday, the market ended last week on a slightly negative note. Both Nifty and Sensex, were down about half a percent apiece.
In an interview to CNBC-TV18, technical analyst Sudarshan Sukhani, s2analytics.com said, the trend for the market next week is simple and clear. Usually when market breaks out of a long narrow trading range there is a sustainable momentum behind that break.
The BSE Sensex edged lower on Wednesday, led by losses in banks, on portfolio positioning by institutional investors ahead of the end of the fiscal year this week.
Large blue chips, including some consumer-oriented companies, will have to show they can counter sluggish developed economies by leveraging growth in emerging markets and technology -- if Wall Street is to maintain earnings momentum next week.