Mr. Gautam Shah of JM FinancialIn an interview with CNBC TV 18, Today he said that, The bears are looking powerful at this stage, which means markets are due for a correction from the current levels. Nifty is likely to offer resistance at 3,490-3,500 level, while the Sensex may find it difficult to cross the 11,300-11,400 level.
Further he advised investors to book profit at current levels. He reminded investors that the month of October and May have a bad track record, and "May might spoil the party for markets."
Bullish on the midcap sector. According to Shah, worst for the midcap space is over and now there are chances of getting good returns.
The global markets, Shah said most global markets are overbought at current levels. “However, 880 is an important level for S&P 500, and there is possibility of 10-15% correction in the US."
Further he advised investors to book profit at current levels. He reminded investors that the month of October and May have a bad track record, and "May might spoil the party for markets."
Bullish on the midcap sector. According to Shah, worst for the midcap space is over and now there are chances of getting good returns.
The global markets, Shah said most global markets are overbought at current levels. “However, 880 is an important level for S&P 500, and there is possibility of 10-15% correction in the US."
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