The current market rally may see some correction but it may not drag the market to the level we were trading at earlier, said Nitin Raheja, Head-Discretionary Equities, Julius Baer in an interview with ET Now.
"I would think that 16,000 odd would be the number where the market could go if it has to correct, but definitely not around that 15,000," Raheja told ET Now.
Raheja added that the correction if happens, will be an opportunity to buy.
"I would think that it is definitely an outstanding opportunity to buy but if we get this correction now, it would be closer to 16,200 from where the market should bounce back," he said.
Raheja is strongly bullish on the financial sector as he believes the sector is poised for growth.
"The sector that we are most bullish on, irrespective of inflation and which should actually benefit even if inflation is there is the whole financial pack and the financial services. We just think that post almost three or four years of pain, this space is very well poised and should benefit from a lag in terms of liability getting repriced. In that sense, they should see a better margin and see credit growth come back," said Raheja.
Raheja is also positive about the FMCG sector and said it is a good place to look at. However, he raised the concern that the rural economy continues to be a drag.
"Even the monsoon has not been evenly spread this time and the rural economy which was expected to come back on the back of good monsoon and festival season might be impacted," said Raheja.
Disclaimer: This article is based on an ET Now interview. The views and recommendations are those of the analysts and not of MintGenie.