Market strategist Nischal Maheshwari advised against panic. “There’s no need to panic. You have already lost 2,000 points from the top. Let the market settle, don’t try bottom fishing.”
On potential market bottoms, he added, “23,000–23,500 is a good range. With 10–12% earnings growth expected, it gives a medium-term valuation of 18–19 times, which is reasonable.”
Regarding profit-taking or capital protection, Maheshwari said, “Unless the market falls another 10%, there’s no point exiting. Timing the bottom is very difficult; keep your head cool and step aside if needed.”
On hedging strategies, he noted, “Safety lies in domestic-facing sectors where demand isn’t impacted by the war. The bigger issue for India is the impact of AI on the IT sector and broader economy.”
Speaking on oil-sensitive stocks, he said, “Upstream companies like ONGC and Oil India make sense now, rather than OMCs or downstream users.”
On traditional safe havens, Maheshwari commented, “Gold and silver have seen profit-taking due to prior run-ups. Gold remains a safe haven, but pricing calls for caution.” Within pharmaceuticals, he highlighted the CDMO space. “Companies like Divi’s and Laurus have performed well. Long-term, the sector still has a good runway.”
Investors are advised to remain patient, focus on resilient sectors, and avoid impulsive moves amid ongoing market volatility.