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Deep correction near term unlikely; buy on dips: Madhu Kela

Concerns about a rate hike by the US Federal Reserve, and slower than anticipated recovery in the economy as well as corporate earnings have been keeping investors edgy over the last couple of weeks

Market is likely to consolidate near term, but investors should use every weakness to buy shares, says Madhu Kela, Chief Investment Strategist, Reliance Capital.

In an interview to CNBC-TV18, he advises investors not to be pessimistic as a deep correction looks unlikely.

Concerns about a rate hike by the US Federal Reserve, and slower than anticipated recovery in the economy as well as corporate earnings have been keeping investors edgy over the last couple of weeks.

Kela says retail investors are still waiting on the sidelines, but expects domestic fund flows to be a major upside trigger for the market. This and a pick up in earnings growth will drive re-rating, he says.

VIDEO AND INTERVIEW TRANSCRIPT TO FOLLOW

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