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“I do not think one should look at the new age tech stocks. Some people may get tempted by the price correction but I still believe that this sector should be avoided. As people continue to chase value and looks for pockets with valuation comfort, PSU bank is another sector to be avoided in 2023.”

The Nifty50 index surpassed its key hurdle of 18,181 level in the previous trading session which is a positive sign for the bulls. The next resistance for the index is placed at 18,300-18,400 levels, suggest experts.

Nifty had topped out in October 2021 at around 18,600 level after which it had a multi-month correction that developed in a downward sloping channel. The index received support near the lower channel line in June-July 2022 and started moving higher.

In an ETMarkets year-end survey conducted among 21 analysts, about 67% of them see Nifty50 above the 20,000 level by the end of 2023. Over 72% of the respondents believe that BSE Sensex will be above the 65,000 mark.

​​HCL Technologies, incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 284989.11 Crore) operating in IT Software sector.

"There are enough opportunities out there in the market right now to put my money in where investors can expect a decent predictable growth because I need to see that this is also coming. This return is also coming in a manner where volatility to a large extent is managed by us; that is our job as a fund manager. ​​So keeping that in mind, I am not yet invested into the cement in a big way and no investment is there on steel."

“The key resistance level for Nifty50 is 18,400 and on the downside 18,100 can act as strong support,” Mohit Nigam, Fund Manager & Head - PMS, Hem Securities said.

"In cement, mny of the groups are expanding very rapidly after the entry of Adani. We could expect that ACC, Ambuja will also start expanding more rapidly. In the next two years, we will see significant supply and demand increases at a steady pace. So pricing and margins could come under pressure. Cyclically they will keep on moving up and down but long-term directionally, I am not playing cement at this stage."

Trading near important retracement zone, which indicates reversal and resumption of uptrend.

“One needs to focus on what one is going for while investing in midcaps and smallcaps; whether one is investing into leaders in a smaller segment or into challengers in the larger segment. One needs to keep in mind all these aspects, whether you are investing in the leaders in a smaller segment or in the challengers or the consolidators.”