In mid of second wave of corona stock market experts suggest that correction of up to 10% from the Nifty peak of 15200 would be a good support level – i.e. levels of 13600-13700. They believe growth for FY 22 and FY 23 looks realistic and encouraging and this current period may not materially de-rail growth expectations.
One needs to be selective on stocks in sectors like auto, large private sector banks, large NBFCs, home improvements / electrical appliances companies, chemical, and pharma. Choose companies with good market share and consistent profitability, even if they are relatively more expensive.