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“In the case of India, growth rates below 5% would be some kind of stagnation scenario but we are not forecasting that. From the world perspective, one could say recession is global growth below 2.5%. We are not forecasting that either. It is still a higher inflation regime rather than stagflation.”

“Most of the auto stocks are at their historic bottoms – whether it is Maruti or Hero MotoCorp. Maruti is still not very cheap but Hero Honda is available at around 12-13 times. So, I think auto is one space basically where one can find value. We like autos because of valuation and not because of strong recovery being forecast in the next one or two quarters.”

The weekly MACD is bearish and trades below its signal line. A large black candle appeared on the charts. It not only demonstrated the directional consensus on the downside, but it also added to the credibility of the resistance of the 17000 levels in form of a pattern violation as well as the 50-week MA.

The largest ever IPO of the Indian primary markets, aggregating to Rs 20,557 crore, is open for subscription till May 09. The retail bidders can bid for the issue even on Saturday, an unusual move aimed at attracting investors.

"In fact many of these other NBFC stocks as well like Chola Finance, Can Fin Home etc. have gone through sharp selling in the last three or four trading sessions. I believe there could be bit of more weakness in line for these stocks," said Kunal Bothra, kunalbothra.co.in.

Legendary investment guru Jim Slater believed growth shares are the most rewarding investments, with unlimited upside if the right companies are picked. Slater said investors should specialise in a certain aspect of investing and concentrate their efforts so that they are able to exploit trading opportunities that elude the average investor.

"That is where we see a lot of retail interest and because a derivative trading can also happen in a volatile and sideways market, we see that the turnover will sustain and even grow in the coming quarters. So overall I feel that there is a sustained behaviour or interest of retail investors both on the investment and trading sides," says Prakarsh Gagdani, CEO, 5paisa.com.

The long-awaited merger of the L&T Infotech and Mindtree creates a new heavyweight in the Indian IT space and analysts believe that the amalgamation of the IT subsidiaries of L&T holds tremendous value for shareholders over the medium term.

The usefulness of diversification is most felt when the market is sideways or falling. A concentrated portfolio ends up taking a big hit during such times. This is one of the reasons why passive index-based investing is picking up. An index offers the benefit of diversification, plus it has the best companies in each sector.