A leading market expert is advising investors to capitalize on potential market dips, projecting a bullish outlook for the medium to long term. Aditya Agarwal, Head of Investment at Coherent Wealth, shared his insights with Business Today, emphasizing strategic buying opportunities.
Nifty Outlook: Buy the Dip Strategy
Agarwal anticipates that the Nifty index may test the 24,000 level. Should the index fall below this point, he suggests a further correction of 300-400 points could occur. "That kind of dip is something which we are advising our clients to buy," Agarwal stated, indicating a strong belief in the market's underlying strength despite short-term fluctuations.
Stock-Specific Recommendations
Beyond the broader market, Agarwal provided specific views on three key stocks: Union Bank of India, Kalyan Jewellers India, and BSE Ltd.
Union Bank of India
Among public sector banking stocks, Union Bank of India appears attractive at its current valuation, according to Agarwal. He noted the stock previously tested the Rs 190-192 range before a correction, followed by renewed investor interest. Agarwal projects the stock could reach Rs 200-210 in the short to medium term. He recommends buying at current levels, setting a positional stop-loss at Rs 178.
Kalyan Jewellers India
Kalyan Jewellers remains a top pick for Agarwal within its segment, maintaining a positive overall structure. He expects the stock to advance towards Rs 750-800 over the coming weeks. In the event of a decline to the Rs 575-580 zone, Agarwal suggests it would be an opportune moment to add the stock to one's portfolio.
BSE Ltd.
In the capital market sector, BSE Ltd. stands out as attractive, especially after a recent sharp correction. Agarwal observes signs of a reversal in the stock's trend. For positional investors, he forecasts BSE could move towards Rs 3,750-3,800, recommending a buy with a stop-loss at Rs 3,150. For short-term traders, Agarwal expects the stock to target Rs 3,400-3,450, with a stop-loss set at Rs 3,130.
Disclaimer: This article provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.