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Market experts say pre-Budget rally likely; avoid metals

Sudarshan Sukhani of s2analytics.com is not worried about the market correction, says he would wait patiently for the market itself to give a direction going forward. He says, this is a bull market and we will have deep corrections o nthe way.

Even though the Indian equity market ended the day in the negative, Kunj Bansal of Centrum Wealth Management is not so pessimistic on the market as he feel that the marekt is consolidating and these corrections could lead to a pre-Budget rally.

Neither does he see any significant change in terms of FII inflows. The net FII inflow into India is likely to be net positive going forward, he adds.

Sudarshan Sukhani of s2analytics.com is not worried about the market correction, says he would wait patiently for the market itself to give a direction going forward. He says, this is a bull market and we will have deep corrections o nthe way.

Talking stock specific, P Phani Sekhar of  Karvy Stock Broking says one needs to avoid the metal space both ferrous and non-ferrous both. There is correction going on in commodities and that is likely to continue, so one cannot ignore the trend and should stay away.

Sukhani says Maruti Suzuki ,  Asian Paints and  HUL are all in the same league. Maruti he says has crosses all its potential targets. All these stocks are likely to pause from their upmove and correct at some time and that time would be a buying opportunity. A pause according to him would be a correction of around 5-7 percent.

However, he is not so keen on the FMCG space.

According to Bansal, FMCG has been sluggish but over the last few days has seen some interest come back. Extending the definition of FMCG, he is bullish on Bata India, which is likely to give good returns.

Watch the video for the entire discussion

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