"Within the cyclical market all that I am looking for at this point of time is stabilization of sentiment, not turning of the sentiment positive."
Dhiraj Agarwal of Standard Chartered Securities is optimistic on the market and expects Nifty to touch 5,900 or 6,000 in a span of six-nine months.
Though nothing has changed on the policy front in India, but global sentiments are stabilizing because it seems like central banks are trying their best to avoid a financial crisis, he explained to CNBC-TV18.
However, one should note that this is not a bull market; it remains to be cyclical market. "The market is inching up from sort of a panic valuation range of 10-12 times to a stable slow growth valuation range of 12-15 times,” he added.
Focus on individual stocks instead of one particular sector now and opt for a bottom-up strategy to pick stocks, he suggested.
Moneycontrol news
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