In the long-term 2018 still remains a good pitch to be accumulating stocks, said CNBC-TV18's Udayan Mukherjee.
Udayan Mukerjee, Consulting Editor, CNBC-TV18 is of the view that the Indian equity market is in a trading range and although it could see a pop-up, it remains a difficult market to trade.
“For the moment, this market belongs to the bears,” he said.
The global markets too will not do very well this year, he said, adding there is much more volatility in store for markets.
When asked how should one approach the market from a long-term investor point of view, he said it will have to be a two-pronged strategy – If one is an investor who wants to preserve capital in the interim and does not want to underperform too much, then focus on domestic quality and IT because the tone of the market is changing. It is now moving towards defensive positioning, where IT and high quality names will do well, while anything that is high beta will underperform.
However, in the long-term 2018 still remains a good pitch to be accumulating stocks. The two main points of accumulations are the 10,000 levels and 9700-9600 and then wait for 2019 to start making money.For full discussion, watch video