Also Read: Downside for Indian markets will be limited in case of a global correction: Mark Matthews
Also Read: Nifty could fall to 9,500 levels; not a good time to bottom fish: Experts
STOCKS TO BUY
On the other hand, analysts at Motilal Oswal suggest using the current correction to accumulate stocks where valuations had turned expensive.
“The sharp correction in mid-caps makes stock-picking a bit less challenging, as valuation premiums have moderated from the recent highs. While we do not rule out further correction, we believe, given our earnings recovery thesis for FY19, this correction offers a good opportunity to accumulate quality ideas where valuations had turned expensive,” says Gautam Duggad, head of research at Motilal Oswal Securities.
Havells India, Emami, JSPL, Indraprastha gas, RBL bank, Exide, Repco, MCX and TeamLease are their preferred ideas. Among the large-caps, they like HDFC, ICICI Bank, Larsen & Turbo, Mahindra & Mahindra (M&M), Motherson Sumi, Titan, HPCL and NMDC.
Also Read: Markets will consolidate over next 6 months, says Jaipuria
Kotak's Model Portfolio
MOSL's top stock ideas (Source: MOSL report)
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