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The Nifty50 rallied around 1,400 points from its March lows to hit a fresh record high above 11,400 after falling more than 10 percent from its previous all-time high seen on January 29.
"Currently valuations are at reasonable levels and the worst seems to be over in terms of price reduction after the fall in February and March followed by recovery along with consolidation. The recovery is on account of earnings which are largely better than expectations," Kenneth Andrade, Founder and CIO of Old Bridge Capital Management told CNBC-TV18.
Even sequential earnings are better than expected, he feels Volatility due to such large events is preditable and the market will react post that event, he said.
He believes the key thing is India has growth cycle and corporate insolvency is not a problem here. "Balance sheets are in place to take advantage of growth and results recovery is happening in next year or may be delayed by a year."
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