Nifty range to be 11,400-12,300; PSUs can re-rate: Prime's N Jayakumar
“I am very confident that we will touch new highs soon,” said N Jayakumar, Managing Director of Prime Securities in an interview with CNBC-TV18.
“I am very confident that we will touch new highs soon,” said N Jayakumar, Managing Director of Prime Securities in an interview with CNBC-TV18.
“I see 11,300-11,400 as the base for the moment and a move to 12,300 – that is probably the thousand point range the market is in,” he added.
“The time may have come for the next contrarian trade to play out which is sectors where there are some greenshoots but they are on everyone’s hate list--real estate, NBFC, and PSUs,” he said.
He believes residential real estate could be a dark horse.
“Prices are coming off. Mortgage rates have come down to lifetime lows. Some amount of buying will get triggered,” he said.
He says a strategic divestment could put the spotlight on PSU and lead to many of them getting re-rated.
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First Published: Oct 16, 2020 7:31 PM IST
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