Market FINAL Bottom Alert: Describing the market technicals and rocket calls for the new year, Kedianomics founder Sushil Kedia said that there are signs of a bottom forming in the market. Further recovery may be seen in Nifty. A rise may be seen in Nifty in the next 3-4 days. Nifty can go up to 24300 in a few days. Nifty will be seen going up to 24300 once in the next 10 days. Nifty is in the mood for reversal, keep stop loss at the low of 31st December. Maybe once we go till 24300 then come down till 23300 to make a final bottom. If this happens then we will review Nifty again at 23300. If funnel bottom is formed at 23300 then Nifty’s journey from 23300 to 26000 will start again.
Talking on Bank Nifty, Sushil said that the level of 52930-53000 can be seen once in Bank Nifty also. After that, if it falls till 50500, then we can see a long term bullish trend from this lower level.
Big correction still left in IT
Talking on IT shares, Sushil said that a big correction is still left in IT. The decline in IT shares may increase. There may be a sharp decline in small and high beta IT stocks. If Koforz falls by 50 percent from the top, it will not be a big deal. There should be a selling strategy in all IT stocks except Tata Elxsi.
The condition of pharma is like a lamp fluttering before being extinguished.
Talking on pharma shares, Sushil said that the condition of pharma at this time is like a lamp fluttering before being extinguished. After IT, the second biggest correction will come in big pharma stocks. Along with this, small pharma also has to fall.
Reliance will lead the market from the front
Talking about his favorite stocks, Sushil said that the three Bajaj stocks Bajaj Finance, Bajaj Finserv and Bajaj Auto will play an important role in taking the Nifty higher. A rise of up to 30 percent can be seen from here. All FMCG stocks are worth buying. Metals are moving all around. Their direction is not clear. It would be advisable to avoid these. Reliance will lead the market from the front in large cap. Tata Motors is the best pick in auto. There seems to be a possibility of it going up by 50 percent.
2025 Market outlook: There will be pressure in the first quarter of the year, there is no problem in large caps in terms of valuation.
Advice to avoid big banks, you will earn money in small banks
Dobur is Sushil’s top pick among FMCG stocks at this time. Sushil is advised to avoid big banks. He says that whenever there is a correction in the market, big banks will be hit the most. In such a situation, it would be advisable to buy from small banks. Among these, RBL Bank is Sushil’s top pick. His long term investment advice is in Bandhan Bank. Au Banc also looks good for the short term. Sushil says that a strong upside move is expected in insurance companies also. SBI Life and HDFC Life may see a growth of 50 percent in the next 6 months. Apart from this, petrochemical share Castrol can also show a rise of 50-60 percent from here.
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