Best time to enter your favourite stocks: Dimensions Cons

Ajay Srivastava, Dimensions Consulting thinks that the markets are waiting for one big trigger. The trigger may come in the form of the Budget or through cuts in interest rates, he told CNBC-TV18. He feels that this may be the best time to buy the stocks that one always wanted to.Excerpts from CNBC-TV18’s exclusive interview with Ajay Srivastava:

Q: What is the call on the market - there is no pre-Budget rally in sight yet? Do you think we will perk-up or should we expect a weakish market?
A: Today, definitely we are expecting a weakish market. Logically speaking, the rest of Asia is also low. There is no major trigger in the system. The Indian market is waiting for one big trigger. One is the Budget and the second is the interest rate.
Everybody is getting bugged by the fact that the slowdown is for real; we are seeing a supply side issue and the cost price of interest is up. But the RBI Governor is not moving from his target to keep the interest rates. That is the big trigger for this market. Unless the RBI Governor comes with the interest rate, we are finding it difficult to find pure fiscal triggers for the market.

Q: What are the ramifications now for the market with all the IPO cancellations? Is that done and out of the system, or do you think that is going to weigh down on sentiment for a bit?
A: I don’t think IPO cancellations make any difference at all because IPOs have been cancelled because of greed and to some extent, market conditions. But the valuations they were wanting was to capitalise on pure greed in the market. It didn’t happen; so let’s leave that aside.
On pure fundamentals, the market is ripe for a buy. The question is, when will the big trigger happen, which is interest rates. We believe that in terms of fundamentals, the market is ripe for a buy, maybe 100 points here or there. This is the right time to start entering into stocks you always wanted to.