Prateek Agrawal, Head – Equities at Bharti AXA Investment is of the view that Indian Stock markets have bottomed out. There maybe a downside of 10- 15 % from current levels. Most frontline stocks are very attractively placed right now and investors can start putting their funds in companies with robust growth plans.

As per Mr. Prateek, the valuations look attractive and if the US Senate passes the rescue bill, the markets may witness a bounce-back. He expects markets to consolidate in range of 12,000 – 13,500.

Banking and Financial stocks are looking attractive. Mr. Prateek suggests investors to consider taking long position in banking majors and auto stocks.

US Senate has passed the Financial Rescue Plan after small modifications. The Senate voted 74-25 for the US$700 billion plan after more than three hours of debate.