The market has just moved up very rapidly in the last few days and two sectors have got left out completely — metals and realty. If the market consolidates around these levels and takes off from here, the next leg of rally can be led by metals and realty. Stocks to watch out for would be DLF in the real estate pack and Tata Steel and Sterlite in the metal pack. They are pretty oversold and are just knocking around their resistance levels. Markets have to show some more strength, breakout above 5,300 should be the key trigger to look at.
Essentially defensive stocks have not been defensive. They have been rallying significantly. In the FMCG space, we like a few but then right now it is the time to ride the beta as the market has shown a lot of strength. It is time to go long on the large cap and stay long till the market trend remains positive.Larsen, Reliance Industries and GAIL are good from this perspective and it would be good to stick to these large caps that have been giving excellent returns.
Posted by: Rishma Shetty
Source: Economic Times
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