But if the election results doesn’t go as desired, then the 50-share index could fall to 9,000 levels, IL&FS' Vibhav Kapoor said.
IL&FS' Vibhav Kapoor feels the Nifty could touch 13,000 levels if the Bharatiya Janata Party (BJP) manages to win the 2019 general elections. But if the election results doesn’t go as desired, then the 50-share index could fall to 9,000 levels, he told CNBC-TV18 in an interview.
From a 12-month perspective, he expects earnings to support the market despite weak macros and sees it trading between 10,000 and 11,000 levels. “But one needs to be wary of the 11,000-mark as that is when earnings will start to look expensive. Anything beyond that will be an opportunity to book profits in the short-term.”
Among sectors, Kapoor finds private banks attractive at current levels as it is growing its market share on a quarter-on-quarter basis. "Even though valuations are expensive, growth is picking up."
He is particularly upbeat about rural-facing sectors such as two-wheeler makers. "Even the road and construction space is interesting as cement demand over the last three-to-four months are in double-digits." But he was quick to add that investors should take a look at each stock individually.