We may have reached a point from where markets could retrace: Vinit Bolinjkar

Domestic benchmark indices BSE Sensex and Nifty 50 fell after hitting all-time highs on Wednesday, a day of weekly F&O expiry. S&P BSE Sensex was down 100 points, while the Nifty 50 index gave up 16,600 support level. UltraTech Cement, Bajaj Finance, HDFC Bank were the top Sensex gainers. On the other end of the table, trading with losses were Kotak Mahindra Bank, ICICI Bank, HDFC, IndusInd Bank. Vinit Bolinjkar of Ventura Securities spoke to Money9 on whether markets would continue its record run from here.

“There is a rotation being seen on markets, for sometime their shift has been taking place to large-caps from the broader markets. Now we are seeing investors who are selling Chinese tech stocks are investing in Indian technology sector.”

However, he believes that we may have reached a place in markets when they could correct now looking at the softness in global markets.

Stock Recommendation

Satia Industries | Buy | Target: 197 | Duration: 24 months