Nifty likely at 11,400 by 2018 end; prefer largecap IT to midcaps: Deutsche Bank

According to Pratik Gupta, the market could fall 3-5 percent only if sharp appreciation in the US dollar and spike in crude oil prices. Overall any fall if it happens would only because of global cues.

The volatility in the stock market will likely continue in the short term, Pratik Gupta of Deutsche Bank India said.

He said that does not mean the upside is unlikely; in fact the Sensex can end the current calendar year at 37,000 and Nifty at 11,400 as the structural growth story of India is intact for next 3-5 years with corporate earnings picking up.

"We are seeing 20 percent earnings growth in FY19 and will continue in next year as well, which will eventually drive the market but near term the market will be volatile," Gupta said in an interview to CNBC-TV18.


The Nifty50 rallied 9 percent to surpass 10,900 levels on Tuesday after correcting more than 10 percent from record high of 11,171 in January to hit 2018 low of 9,951.90 in March, but the recovery was gradual and amid rangebound trade.

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Source:https://www.moneycontrol.com/news/business/markets/nifty-likely-at-11400-by-2018-end-prefer-largecap-it-to-midcaps-deutsche-bank-2696871.html