Nifty @14,700 likely after Feb 15: Sanjiv Bhasin
Why is the market whipping NBFCs and banks?
There was a lot of froth and people were uncaring of the risk because of the flows. In my lifetime, I have never seen the type of money which has come in the last four months. So the longer term story remains extremely bullish but in the short run, caution is very much on cards. When Bitcoin was rising, all other asset classes were also rising and that underlined the need forcuation.
Last Wednesday-Thursday when we hit the 50,000-mark, we were extremely overbought and today we are extremely oversold. The corrections are sharp and furious and that is what the bull market is all about. So this is the time to buy good stocks. Start doing a systematic plan because we do not see this volatility lasting too long. We are pricing in whatever negatives could be expected in the Budget. So once we are through with this settlement, I would be very optimistic for the second half of February where again think that 14,700 on the index can be revisited.