Posted 3/17/2024, 3:20:00 AM
Market Correction Expected to Continue; BFSI and Defensives Look Attractive Near-Term While Midcaps Offer Long Term Potential
- Corrections to continue for a couple more months as broader market correction has just begun recently
- Areas to buy now are BFSI, capital goods, select pharma, insurance stocks; consumer outlook weak
- Largecaps and defensives preferred in near term, but midcaps and smallcaps have legs for long term
- Economy still shows strength across various indicators, so no major bubble burst feared
- Focus ahead on advance tax payments, electoral bonds, elections and earnings seasons