Anu Jain, senior partner at IIFL Wealth Management, on Friday said she prefers to buy Fortis Healthcare & Bharat Petroleum Corporation Ltd (BPCL), and would sell HDFC Bank for target of Rs 1,300.
Jain said, "The current rally is in a mature stage. There is a possible exhaustion which can set in on both the Nifty and the bank Nifty. The Nifty can stretch up to 13,700-13,800 but it seems that there could be some kind of a correction and the Nifty could retest 13,150."
Manish Sonthalia, head of equities PMS at Motilal Oswal AMC said around the current levels you could see some correction in the markets but given the global liquidity there is still some steam left.
"However, the current move is not supported by fundamentals, it is only an expansion in PE multiples," he said.
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(Edited by : Jomy Pullokaran)