2017 could be one of the best performing years for equities: Sanjiv Bhasin, IIFL

In a chat with ET Now, Sanjiv Bhasin, Executive VP- Market & Corporate Affairs, IIFL, says the budget will be the kingpin which will actually set the cat amongst the pigeons.

Edited excerpts:


You said early this month that you believed 9000 is for the taking or maybe higher levels are for the taking in calendar year 2017?

Yes, I had said that my December 2017 target would be 10000 on the Nifty and I stand by it even though I am putting my neck out on the back of extreme pessimism that the best of the developed trade has played out on long US dollar, long US stocks and long US bonds and emerging markets on the back foot and with us being an underperformer because of demonetisation.

January will see whatever quirkiness has to be there. So, Nifty will be in 7800-8200 range in January but the budget will be the kingpin which will actually set the cat amongst the pigeons and from there onwards, we should be at new highs and we will build on it in the second half of the calendar year.

We think 2017 could be one of the best performing years for equities and we reiterate a buy on any declines and at times of fear for equity will be the best performing asset in 2017.