Expect Nifty to claim 17,500 before March 2022: Gaurang Shah

Benchmark indices the S&P BSE Sensex and the Nifty surged over a percent to hit record highs of 56,734 and 16,881, respectively in intraday trade. A broad based buying following positive global cues boosted domestic equities to fresh highs. Gaurang Shah of Geojit Financial Services spoke to Money9 on what is fuelling the rally and what's the best way for investors to approach this market. "Still optimistic on benchmarks clocking higher levels, even though am slightly sceptical on broader markets. Expect the Nifty to clock 17,500 before March 2022 if the earnings are supportive and third wave is not severe, so the best strategy for investors is to buy all dips to get into the markets in large-caps and select midcaps", he said He believes that IT, FMCG, Pharma, Metals, Cement are pockets one needs to focus on for better opportunities. On key lessons learnt from legendary investor Warren Buffett's life and investment journey on his birthday, he said, "Don't be greedy is what I have learnt from him. Also for all investors looking for some inspiration from the life of Oracle of Omaha is that investment in equities with some common sense and knowledge can reap the best kind of returns", he added.