Rakesh Jhunjhunwala says market peak far away; sees Nifty doubling in 4-5 years

The big bull D street, Rakesh Jhunjhunwala, said investors should not worry about a correction day because “we are far from the top.” Nifty is likely to double in the next 4-5 years, he said in an exclusive interview with CNBC-TV18.
The bull market will only intervene when three factors are present: the evaluation of foam, the foam of compromise and bad news, he said.
In the making of them, Jhunjhunwala said simply by an evaluation foam, the bull markets do not end. By involving foam, which means a lot of leverage for the purchase, it is still not there. The third factor is bad news and when investors sell the bad news, there is no buyer.
“There may be some foam pricing now, but there is no fool commitment. There is bad news and when investors are selling, you can find buyers.” So we think we are away from a higher market, “he said. Jhunjhunwala.
Congratulating the government of Prime Minister Modi to complete three years Jhunjhunwala said that (Modi) was preparing India for a major change. “The effect of their policies will take time, but I do not think it’s 2-3 years (only) we’ll see the explosive growth of 10 to 11%,” he added.
PM Modi has transferred a large amount of money in the states. It increases costs and is always able to maintain fiscal discipline, he said. “I do not think India’s economy has seen a sunny one when it has stable interest rates and good value for money. We are on the threshold of a significant growth and the problem of the APN should be solved in the coming 12 to 24 months, “said Jhunjhunwala.
S & P BSE Sensex increased by more than 27 percent, while the Nifty rose to over 30 percent in the past three years. However, investors have made money in the broader market, as the S & P Midcap EEB and Smallcap have almost doubled over the same period due to global and local liquidity.
The great bull feels that the flow of money from Indian homes has just begun, with the demonetization. “The local currency tsunami will come from the local market. Morgan Stanley predicts that USD 425-825 billion in the next 10 years to bring to the markets,” said Jhunjhunwala.

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