Big bull market coming if Nifty does n’t fall in coming 2- 3 months Nithin Kamath
Given how numerous investors, both in India and abroad, are still willing to go big on the India growth story, Zerodha CEO Nithin Kamath believes that we might be treated with a big bull market provided that Nifty does n’t fall in the coming 2- 3 months. still, he also warns that the “ ferocious bear market rally ” in the US may not last long, which in turn, will also affect India.
“ There’s so important liquidity around. People are staying to invest. We might just have another big bull run if the market doesn’t fall in the coming 2- 3 months, ” Kamath told in an interview.
Kamath said India is the last place in the world where there’s still growth. “ Our demographic profile is fit for investors looking to enter the market. We also have a stable government. India will continue to outperform utmost other countries, ” the billionaire stock broker added.
Amid softening prices of goods, crude oil painting in particular, FIIs have started to make a comeback on Dalal Street after dealing mercilessly for nine months. In August, their net purchases in the cash member have been further than Rs,500 crore so far.
As a result, Nifty has also revived from its 52- week low of,183 to near,000 in just two months.
When asked when Nifty could zoom history the record high of,604, he said it’s tough to prognosticate.
“ The Indian market is showing a lot of strength. There’s no mistrustfulness about it at all. You do not know what all to give credit to- whether it’s due to the retail exertion or because we’re less leveraged, ” Kamath said.
Despite all the sanguinity around the India story, global markets may spoil the party.
“ In the US, it’s a veritably ferocious bear market rally in the sense that some of the reasons responsible for the decline in the markets between March to June still live. Given the fact that there’s affectation and the interest rates are going up, I suppose the US is in a ferocious bear market rally that will not last too long. And if that rally does not last too long, it’ll affect markets encyclopedically as well and we will obviously be affected along with it, ” the Zerodha author said.
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