Nifty at 19,000 before Budget: IIFLs Sanjiv Bhasin explains why bulls will rule the roost on Dalal Street
Sanjiv Bhasin said that Nifty50 will reclaim 18,500 next week and suggested investors not fall prey to the rumours. He added that Nifty will also achieve 19,000 before the Union Budget.
Nifty50 Target By Sanjiv Bhasin: Renowned market expert Sanjiv Bhasin has predicted that Nifty50 will hit 19,000 before the Union Budget. In a special show Bhasin Ke Hasin aired on Zee Business Monday, he said that Indian markets are poised to gain and outperform peers in the coming years.
Speaking about the recent correction in the market, Bhasin said that 'corrections are very unhealthy always', adding that 'when correction comes, everyone runs away'.
The market, he said, will reclaim 18,500 next week and suggested investors not fall prey to the rumours. Bhasin added that he had warned last week that the market is overbought and book profits.
Explaining why he is bullish on Indian markets, he said, "The US rate hikes are priced in and bond yields are stable. Also, Russia is now calling for talks on Ukraine. China wants to improve ties with the US... probably due to real estate problems and the Covid situation."
"India is going to outperform," he said. "Budget se pehle 19,000 (19,000 before Budget)."
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