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Vinit Bolinjkar, Head of Research, Ventura Securities, sees the Nifty around 24,000-25,000 by next Diwali, which implies a 24-29 percent upside. A decent allocation of 10 percent of the portfolio in gold provides stability, he advised investors.
"A very strong buying action was seen in Zomato. Even if you look at the longer-term chart timeframe, since the last seven or eight months, the stock is in an uptrend. If you look at the weekly as well as the monthly chart, the stock is clearly moving in an up-sloping channel. That clearly shows that the trend is intact on the bullish side."
Manish Jain, Fund Manager, Coffee Can PMS, Ambit Asset Management, believes that the Indian market can double in the next 5 years. Don't get swayed by near-term momentum and always aim for long-term wealth creation by investing in quality businesses, Jain advised investors.
Apurva Sheth, Head of Market Perspectives & Research, SAMCO Securities, believes that geopolitical risks and rising US bond yields are major worries. In an interview with Livemint, he recommends sticking to companies that are delivering consistently rather than trying to bottom-fish.
Picks BFSI, healthcare and a few consumer firms as attractive bets based on valuations and consistent earnings growth