Market expert Jai Bala shares insights on trends to keep an eye on

Market expert Jai Bala shares insights on trends to keep an eye on

Vishwajeet Bhandigare
/ Categories: Trending, Mindshare

According to him, the current bull rally is not sustainable in the medium to long term.

After a sharp rally for five consecutive trading sessions, markets today are witnessing some correction. The markets are currently going through a lot of turbulence given many global factors along with domestic events. Jai Bala of cashthechaos.com had thrown some light on the market trends and has expressed his perspective on the future. 

On the contrary of what bullish investors might be feeling currently, Jai Bala believes that the recent bull rally is nothing more than a relief rally. He feels that upward movement in Bank Nifty might continue till 37,000. He said that in the short run, we might see markets rising a bit, but in a medium to long term perspective, markets will experience a downfall according to him. We are yet to see fresh bottoms which he anticipates will come around July or August of fiscal 2022-23. 

Talking about the popular themes during this short bull run, he is bullish on the pharma sector as he expects the Nifty Pharma index to hit the 13,800 level. He also finds value in IT sector and some stocks in FMCG as they can deliver good returns in a medium to long term period. He expects the nifty to bottom out at the level of 14,000 and bank nifty at 27,000. 

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