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We will now begin a new journey to build a new India, says Narendra Modi

272/543
L :0
W :353
L :0
W :92
NDA :353
UPA : 92
LOK SABHA ELECTION RESULTS 2019
Total Constituencies
543
Voter Turnout
67.11%
NDA : 353
2014 : 354 Seats
BJP
303
+
SS
18
+
Other
32
UPA : 92
2014 : 66 Seats
INC
52
+
DMK
23
+
Other
17
OTH : 97
2014 : 107 Seats
TMC
22
+
YSRCP
22
+
Other
53
VIDEOS
Market

No compelling case to buy in this rally, says Ajay Srivastava of Dimensions Corp

Updated : April 03, 2019 06:59 PM IST

Ajay Srivastava, CEO, Dimensions Corporate Finance Services and market expert Ashwani Gujral share with CNBC-TV18 their readings and outlook on specific stocks and sectors.

Talking about oil price, Ashwani Gujral said, “Each time you have elections, oil marketing companies (OMCs) come under weakness. But people are now adjusting to the way the government behaves ahead of elections. BPCL - the 200-day moving average was about Rs 355, so you can say that you could buy at around Rs 315 and sell around Rs 410-415. So, if we get to the lower end of the range, these oil marketing stocks are ‘buys’ because the price tends to catch up and if we are at the higher end of the range and elections are around the corner, that is when you need to get off the bus.”

On markets, Ajay Srivastava said, “It is a reminiscence of what happened in August 2018. It was a liquidity rally, we were all expecting earnings turnaround which was not taking place and this rally is almost similar to that. I do not know whether it will have further leg because people are still going to buy from overseas but domestically, most people have invested so they continue to enjoy the rally but nobody put in really fresh money in this rally. So, by and large, there is no compelling fundamental economics, financial case to buy into this rally.”

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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