Market veteran Sushil Kedia said that the stock market could seen “explosion” following Lok Sabha election results and almost all stocks will rally owing to the same. Although the next round will be driven by stocks that have underperformed thus far, he said as per Moneycontrol after exit polls predicted a big majority for Prime Minister Narendra Modi's Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA). Counting of votes for the Lok Sabha elections will take place on June 4.
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Reflecting on the exit polls, he said as per the outlet, “On exit polls, most pollsters, due to the limitations of statistical methods, will tend to make conservative estimates, which is what is visible in the last 4-5-6 elections; the winning side was underestimated in each of the elections, in each of the exit polls. 380 is what the pollsters are broadly claiming today. Who knows? It could be a 400-plus mandate also, which will be discovered only on Tuesday.”
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Talking about his strategy for trading this week, he said, “My philosophy is buy on anticipation, and take the cash, when the anticipation works out. So, those who haven't bought yet, those who are underbought, let them participate. We are loaded up to our chin. And I'll never go up to my nose.”
{{/usCountry}}Talking about his strategy for trading this week, he said, “My philosophy is buy on anticipation, and take the cash, when the anticipation works out. So, those who haven't bought yet, those who are underbought, let them participate. We are loaded up to our chin. And I'll never go up to my nose.”
{{/usCountry}}He also said that there are certain stocks that he remains extremely positive about. He asserted, “We will continue to back stocks where the relative margin of safety was very high. Stocks that have not performed well so far: FMCG, IT, media entertainment, some bit of chemicals. We will stay away from metals. We will get out of any remaining positions in autos. We will be actively and eagerly looking for this euphoria to settle down to start finding shorting opportunities in financials.”