The Indian equity market is currently oversold, offering good opportunities for long-term investors to enter, according to Naveen Kulkarni, CIO at Axis Securities. He said midcaps and smallcaps could deliver strong returns over the next 12 to 18 months, provided quality companies were chosen to invest in. Kulkarni also recommended buying into private banks, adding they were in a strong position and growth would pick up over the next few years. Finally, he said Reliance Industries stock was currently undervalued, and suggested purchasing it for potential 15% returns over a year.
