Nobody is scared now due to trade war concerns. In fact people are asking for opportunities in the falling market and there are opportunities available, he added.
The market fell sharply following global weakness after Chinese authorities said they could hit 128 US products with tariffs in response to President Donald Trump's memorandum which could impose charges on up to USD 60 billion worth of Chinese products.
The Sensex was down around 400 points and the Nifty continued to trade below the psychological 10,000-mark.
Deven Choksey of KR Choksey Securities feels the negative sentiment is refraining retail investors from participating in the market.
For long term investors, opportunities are plenty in the market, given the strong earnings visibility for next 6-8 quarters, he said in an interview to CNBC-TV18.
Life insurance business, commercial vehicle, housing finance, electrical goods and equipment segments are good for investment, he feels.
As far as long term trade is concerned, technically in the market anything can be possible, but capitulation with multiple headwinds can pull the market down to 9,700 on the Nifty but fundamentals are not supporting the fall, he said.
He further said people are sitting on cash, once this correction settles down they will come.
Nobody is scared now due to trade war concerns. In fact people are asking for opportunities in the falling market and there are opportunities available, he added.