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Atul Suri sees market range-bound this year, crude rising above $80 in a few months

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Suri feels that the emerging trend of the market remaining range-bound could continue for the rest of the year. In such a situation, he feels investors should stick to quality names

After returning 29-30 percent in 2017, the market has been subdued since the turn of the year, especially after the Union Budget. On a year-to-date basis, it has managed to return a mere 2-4 percent to investors.

Experts like Atul Suri feel that the emerging trend of the market remaining range-bound could continue for the rest of the year. In such a situation, he feels investors should stick to quality names.

“This year is not going to be about indices. One must look for consensus bullishness or bearishness. Quality (stocks) will re-assert itself and that will do well in mid and largecap space,” Suri, Chief Executive Officer, Marathon Trends – PMS told CNBC-TV18.

Having said that, Suri held on to his 3-year target of 17,000 for the Nifty, which indicates that there is bullishness in this market.



However, the market could also keep an eye on movements in crude prices, which Suri thinks could exceed $80 a barrel a few months down the road. “At that time, the market could react to the preparedness to this situation rather than the high prices,” he told the channel.

Sectoral calls

Speaking on sectors, Suri said he is still upbeat on metal stocks. “These are still in a long term bull market. Currently, it has paused for a bit and the volatility is largely due to other factors. Take, Vedanta for instance. But globally, this rally is not over,” he said.

Suri is also bullish on FMCG, information technology and private sector banking, and says that while all these sectors are on the verge of a breakout, investors are usually unwilling to enter at higher prices.



In the IT space, he asks investors to look at midcap stocks since a lot of them are being accumulated by large institutions in substantial quantities.

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