India's stock market will climb “the wall of worry”, with the benchmark Nifty 50 index inching toward 18,000, according to Gautam Shah.
While the information technology sector has been at the forefront, capital goods, telecom and Reliance Industries Ltd. will be the leaders of this up-move in the coming days, the founder of Goldilocks Premium Research told BloombergQuint's Niraj Shah during the BQ Edge event.
Gautam Shah didn't rule out the possibility of a correction after the Nifty 50 hits 18,000. But any decline, he said, should be used to add strong stocks.
The market veteran, however, is circumspect about mid and small caps. Their “meteoric rise” is “unbelievable”, and at some point of time in the near future the rally will start to fizzle out, he said.
Over the medium term, Gautam Shah said the mantle of leadership would shift to telecom; and banking, financial services and insurance, with IT stocks moving within a sideways band. He expects gold to do well over the next 18 months.
Watch the full interaction with Gautam Shah here:
Related Coverage: BQ Edge
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