According to Vikas Gupta, the CEO and Chief Investment Strategist at OmniScience Capital, $100 a barrel oil price looks here to stay for the next several weeks.
However, if US decides to declare a “win” and exit, then there is a possibility of oil prices coming down towards $80 a barrel and then eventually towards $60 a barrel by end of the year, he said in an interview to Moneycontrol.
He believes this is a bottom-up market because there are pockets of huge overvaluation and undervaluation. His focus is on PSU banks, followed by private banks, power ecosystem including generators and financiers, housing finance companies, and infrastructure ecosystem.