Nirmal Bang: Don't try to catch Nifty bottom; wait for rebound
Rahul Arora, CEO at Nirmal Bang Institutional Equities believes there is a retest of 18,000-18,500 waiting to happen at some point in this year.
“From a positional standpoint, the most simplistic way to explain is don’t try and catch the bottom, wait for a bottom to be formed and a Nifty to rebound,” said Rahul Arora, CEO at Nirmal Bang Institutional Equities in an interview with CNBC-TV18.
He would wait for some amount of certainty before the market bottoms out. Whenever the bounce comes, it could be reminiscent of what happened when COVID-19 fears started to recede. One could see a fairly significant V-shaped rebound in the market whenever that bottom is formed, he said.
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Let the bottom be formed, let it rebound a little bit especially for the retail investors and once one is sure that Nifty is stabilized a little bit then one should put in the money, he advised.
He believes there is a retest of 18,000-18,500 waiting to happen at some point in this year.
For the full interview, watch the accompanying video
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