NIFTY 50

Prime Securities expects Nifty to aim at 11,700-11800 closer to election

Updated : March 07, 2019 17:18:51 IST

Nifty will take out 11,200 and make a bid for new levels at 11,700-11800 closer to elections as a lot of political headwinds are clearing much faster than expected, said N Jayakumar, president, Prime Securities.

"So, it is time to do stock picking and there are a number of sectors offering value for those willing to take a risk at this point in time," Jayakumar said.

We are at the beginning of a strong bull cycle for smallcap and midcap kind of stocks, he said.

According to him, naysayers are the heartening feature of the current rally in the market.

The current rally seen in the midcaps and smallcap has nothing do with border tensions but has got everything to do with valuations, Jayakumar added.

Sector specific, he said they favour the big PSU banks with strong corporate books. The house is also upbeat on aviation stocks on the back of them having the ability to unlock their true potential. According to him, aviation stocks will do well as the holding companies shed excessive debt.
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