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Its never too late to get into commodities as a multi-year cycle is underway. Equity rally to continue till liquidity tightening begins, says CEO, Marathon Trends, PMS. ....
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As far as I am concerned, 14,500 is the level where a lot of retail will get nervous. If we go below 13,600, I would get back to the drawing board because this is the pre-budget low and the Budget has been a bit of a game changer for the underlying economy in India, says Marathon Trends PMS. Have you been monitoring what is happening on the bond yields on the global front and with respect to flows? It is definitely an area of concern but what is impressing me is how well behaved the markets are. We have doubled in a year. The Nifty was around 7,500 about a year ago and we are at 15,000 now. There has been a 100% jump in the index and it is but natural that markets will pause and correct. We have two options. One is that we can have a correction that is down or we can go into correction sideways. So far, the market has been exhibiting a sideways kind of correction. We are stuck to this 14,500-15,400 range, a 1,000 point band where we are somewhere at the midpoint. ....
There has been buzz around privatisation on the PSB front. Do you see this interest continuing? The beaten down stocks or themes is the most interesting place and the public sector undertakings form a part of that. We are 2.5 months into 2021. The Nifty is up around 7.5%, the PSU Bank Index is up 30%. Metals are up 18% and the PSU basket or index itself is up 18%. Globally, the beaten down spaces or sectors that have been the worst hit in the Covid fall are actually the biggest gainers. The PSUs form a subset of that basket. It is not just in India. In the two and a half months, Nifty is up 7.5% and the small cap index is up 20%. The midcap index is up 16%. So, the outperformance happening in the beaten down spaces. Thematically, beaten down spaces have been the biggest gainers in the last few months. ....