Macquarie Capital advises investors to buy, if market falls another 4-5%

Sandeep Bhatia, head of equity-India at Macquarie Capital Securities spoke to CNBC-TV18 about the current trends in equity market and outlook.

“We are definitely down but definitely not out. Is this a routine correction? Obviously it is not a routine correction and this correction can continue for a couple of months. Does that mean that the India story is over or we have a real concern? Absolutely not,” Bhatia said.

“I have seen that whenever there is these kind of corrections, given a passage of time of maybe 12 months or two years, these are fantastic entry points. Last such entry point was when demonetisation had happened, mid of December was the low for the market and then we saw two years of very strong returns. I think we are again getting an opportunity in this market, the market can correct. I wouldn’t be surprised if it hits 10,800 on the Nifty but does that mean that all hell has broken loose? Absolutely not. I think you should be a buyer if the market corrects more than 5 percent in the next couple of months,” he added.