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Jan series may not hold 7960; look for opportunities: Pros

Market expert Anand Tandon says the fall will give many buying opportunities. He, however, adds that the question now is if the fall becomes steeper how many will be able to hold their nerves and continue buying.

The correction in the Indian market is throwing good opportunities, but keep some cash in hand for better opportunities with long-term perspective, is the word coming in from Deven Choksey of KR Choksey Securities. The result season may also give investors a few good opportunities, he adds.

Market expert Anand Tandon too agrees with Choksey that the fall will give many buying opportunities. He, however, adds that the question now is if the fall becomes steeper how many will be able to hold their nerves and continue buying.
 
Sudarshan Sukhani of s2analytics.com says there may be a relief rally tomorrow. Considering the fact that the trend is down, there is a possibility that in the January series, the earlier low of 7960 may not hold, but how much lower it will go from that level is a little difficult to predict, he says. According to him, investors should be on the short side of the market in the Nifty as well as the Bank Nifty.

Choksey says some of the cyclical, old economy stocks demand attention. Some of the power generating companies, infrastructure companies with road assets, port assets are available at good valuations, he says. He also likes the financial sector. Going ahead, he says, the growth rate in terms of credit offtake and NPAs are expected to be better. He also advises investors to buy select midcap stocks with convincing business models.

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