Jai Bala of cashthechaos.com on Monday said the stock market has lost a little bit of momentum but no need to much worry about it as it is a short-term correction for the equity markets.
“I would think this pullback from the all-time highs is going to come somewhere close to slightly below 11,500 or maybe slightly deeper than that probably around 11,275,” Jai Bala said.
“I would think markets are still bound for record highs. So going into the elections, my sense is that the markets are going to be bullish," he said.
On buying opportunities, Jai Bala said, “In November, I had said that IT stocks are going to be selling and that trend has continued. I will still think that IT has got some more upsides to work with. Fast moving consumer goods (FMCG), I am still bullish. I am expecting record highs for Hindustan Unilever Ltd (HUL), Colgate Palmolive (India) and the likes. I would still think there is some steam left in auto stocks but they may not go back to record highs.”Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.