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Market likely to have bottomed out at 14,150; expect up move to resume in May: Market expert Rohit Srivastava

Updated : April 23, 2021 09:49:14 IST

Rohit Srivastava, founder and strategist at Indiacharts.com, on Friday said he believes that market may bottomed out at 14,150 and expects a revive in May.

Srivastava expects IT, pharma, metals, auto and PSU stocks to outperform in the coming weeks.

He said, "I think 14,150 on the Nifty and 30,405 on the Bank Nifty should be the final bottom. We may be setting up for a rally going into the month of May. The only question is does it happen fast or does it happen slowly because of all the negative news that still continues to unfold around us but it does look like we will see a pickup in the indices going forward."

Nilesh Shah, managing director of Kotak Mahindra AMC, said he expects defensives to make a comeback in the near term while cyclicals which outperformed in the last couple of months take a pause.

Shah said the market might witness a limited correction if there is a short term lockdown but warned that a prolonged lockdown will definitely impact the markets.

To know more, watch the video.

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.
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