Dharmesh Shah advises buying on dips, sees favourable risk-reward ahead

Dharmesh Shah, a market expert from ICICI Direct, believes the recent bounce in the Indian stock market is more of a technical pullback than a full-fledged recovery. He suggests investors focus on key support levels like 22,900 for the Nifty and 23,300 to 23,500 for dips. Shah also highlights that historical data suggests such corrections often follow predictable patterns with strong rebounds in the near future. While short-term traders may face volatility, he recommends medium-term investors build portfolios as the risk-reward appears favorable.