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    Expecting markets to go down further: Ambareesh Baliga

    Synopsis

    'At this point of time, it is very difficult to give you a stock idea because I am expecting the markets to crack further.'

    ET Now
    In a chat with ET Now, Ambareesh Baliga, market expert, shares his views on the markets. Excerpts:

    ET Now: India is one of the biggest importers of oil. On paper this is great news, yet the Indian markets are down.

    Ambareesh Baliga: Based on this news, we had a good move in the last two to three months, but then right now, what we are seeing is a huge amount of adverse news other than oil. Oil clearly is positive, but other than that, whatever news is coming from the international markets - whether it is IIP data, trade gap, the way the rupee is moving – all this has been negative and finally, we have the FII selling also, because of which the markets have cracked and this was overdue.

    ET Now: Give me two stock ideas where do you think money could be made in next three months.

    Ambareesh Baliga: At this point of time, it is very difficult to give you a stock idea because I am expecting the markets to crack further. But still I would give two or three safe ideas. Firstly, Infosys at slightly lower levels could be looked at for buying. The second one is Sun Pharma, which again is comparatively safe compared to the other pharma stocks. The third one, which has been my favourite for a while in the midcap private banking space, is DCB. It has corrected about Rs 4-5 today, but at 103-104, one could look at buying it with a price target of about 128 to 130.
    The Economic Times

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