Wait for corrections to buy at lower levels: Ambareesh Baliga, Edelweiss
"It will not come down to levels which we had seen in the recent past, but close to a 4-5% correction is quite possible in any bull market."
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In a chat with ET Now, Ambareesh Baliga, Edelweiss Financial Services, talks about the PSU banking space.
ET Now: The PSU banks may have been classified as duds 12 months back. But they are certainly finding favour right now. What amongst the PSU banks are you recommending to your clients at the moment?
Ambareesh Baliga: We are suggesting Bank of Baroda, PNB, SBI and the like. But the question remains whether you should be buying at this point of time when they have run up so much.
Right now it is more of a trading bet. But for investment I would wait for some correction, because that is bound to happen. You cannot have a one way street. So it is better to wait for some amount of correction. It will surely not come down to levels which we had seen in the recent past, but close to a 4-5% correction is very much possible in any sort of a bull market.
Just wait for the correction to pick stocks at lower levels.
ET Now: The PSU banks may have been classified as duds 12 months back. But they are certainly finding favour right now. What amongst the PSU banks are you recommending to your clients at the moment?
Ambareesh Baliga: We are suggesting Bank of Baroda, PNB, SBI and the like. But the question remains whether you should be buying at this point of time when they have run up so much.
Right now it is more of a trading bet. But for investment I would wait for some correction, because that is bound to happen. You cannot have a one way street. So it is better to wait for some amount of correction. It will surely not come down to levels which we had seen in the recent past, but close to a 4-5% correction is very much possible in any sort of a bull market.
Just wait for the correction to pick stocks at lower levels.
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