“We can expect further correction in the near-term,” he says.
At least in the near-term, the possibility to break below 17,000 is low, however, a lot will depend on the Federal Reserve medium-term stance on QE .
We have been suggesting caution for some time due to the over-appreciation and have been advising to transform your portfolio into a balanced mix of defensives, debt, cash, and upcoming sectors.
Impact is from stagflation and supply constraints on those stocks and sectors which depend on raw material as key inputs like metals, food grains, chemicals, and logistics.
SJS Enterprises is a leading player in the decorative aesthetics industry with a wide portfolio of premium products.
And if this weak trend continues for some more time, it will also impact the future IPO plans.
Defensives like IT, pharma, FMCG and telecom will also be in favour during a weak market.