Atul Suri of Marathon PMS Trends has a target of 21,000 on the Nifty 50 index, implying a potential upside of 22 percent from current levels.
"I don't think the markets will crash from here," he told CNBC-TV18 during the Mahurat Trading session of Samvat 2079.
However, he has a caveat that the moves in the new year will not be an across the board move and even within specific sectors, stocks may move in different directions.
He is of the opinion that stocks that fall less during a falling market are leaders of the next bull market. Over the last Samvat, the benchmark index declined 1 percent but managed to outperform most of its peers.
Despite the stocks nearly doubling or even more during the last Samvat, Suri believes that there are still some stocks within the space that are cheap and will do well as countries are realizing the need to become self-sufficient in defence, especially after the Russia-Ukraine crisis.
Other Key Takeaways:
Commodities playing out the way they are make me bullish
Swing will take place towards more actively managed funds from passive fund management
Themes are turning out to be more domestic-focused compared to global
Portfolios are realigning as IT & Pharma, which dominated 2020-21, are now underweight