Goldilocks’ Gautam Shah believes that the bear market has ended, positive on capital goods, FMCG & auto

Positive global cues boosted Dalal Street this week — the market closed 9 percent higher to see its biggest monthly rise since November. The rupee also witnessed its biggest one day gain in a year, while the US Fed Reserve hiked rates by 75 basis points as expected.

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Gautam Shah, Founder & Chief Strategist at Goldilocks Premium Research, said, “It is too early to say that it is a start for bull market. But definitely I want to believe that the bear market has ended. After every bear market ending, you see a phase of consolidation within a large range.”

He added, “For me capital goods, FMCG, and auto are the sectors where you commit into on every small dip and those dips will come sometime in August.”

Also Read: US Fed raises rate by 75 basis points — first back-to-back hike since the 1980s