The Indian market has witnessed a spectacular rally in 2012. This week is very important for the market. There are two important triggers this week. The RBI’s monetary policy review is tomorrow. Also, last few sessions of the Parliament’s winter session will be closely watched by the Nifty.
In an interview to CNBC-TV18, Hiren Ved, director and CIO, Alchemy Capital Management says the market is consolidating, but it remains in an uptrend. "Between now and Budget, I do think that the market direction should be upwards," he adds.
He has increased exposure to the broader markets. "I expect the market breadth to improve significantly in 2013," he asserts.
He has selectively increased exposure to high quality cyclicals. "We have still maintained our overweight on the consumption theme. Incrementally, we have increased our exposure to some of the smaller and midcap stocks and also some high quality largecap and cyclicals," he elaborates.
According to him, rupee weakness is a potential risk in 2013, if fiscal gap widens.
Moneycontrol news
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