Goldman Sachs revised price target for Nifty implies an upside potential of more than 8% for the index from the current levels. In trade on Tuesday, Nifty50 was trading at 21,707, up nearly 1% from the previous close.
Anuj Bajpai, Founder & CEO, Liquide, believes that with general elections around the corner, the interim Budget may feature measures with mass appeal, such as tax reductions or subsidies. However, any major announcements in the interim Budget seem unlikely, he added.
As part of the portfolio readjustment for the year 2024, the brokerage prefers increasing exposure to largecaps (over smallcaps/microcaps). It would be better to tactically take home some profits in the broader market (read small/microcaps), it added.
Rishi Kohli, CIO - Hedge Fund Strategies at InCred Alternative Investments, expects the next 2 years to be bullish and advises investors to be long equities.
Nimesh Chandan, CIO, Bajaj Finserv Asset Management, believes the government will continue its path to incentivise manufacturing and infrastructure in the upcoming Budget.