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Stocks like Max Healthcare rose to its 52-week high, up over 2 percent, SAIL fell by about 6 percent, and Tata Motors was down by over 5.6 percent.
The market is heading for 14,580/49,600 levels, which is a crucial hurdle point for the market. On the decisive break of 14,580/49,600 levels, it would result in retesting of 14,650/49,800 levels.
In the current environment, it would be best to take a 3-year view as the economy and earnings would have normalized by then. From current levels, we can expect a 10-12 percent CAGR return for the Nifty, says Patil.
We are quite confident that equities will deliver 15-18% return over 5 year period. Within equities, one should allocate capital to above-mentioned themes approximately in the ratio 30:30:30:10, says Khemani.
Medium-term investment opportunities are still available in pockets like metals, commodities, and cyclical, though they have turned risky, says Mehta.