Mitesh Thakkar of Edelweiss is of the view that one can get 8-15% upside in capital goods stocks.

Thakkar told CNBC-TV18, "I was referring to those sectors when I said that some stocks have been oversold. We have seen BHEL drop off a lot after declaring their quarterly numbers and last two-days have been very good for the stock. There has been some kind of short covering. Good delivery volumes stocks have started to move up. A similar case can be observed with Siemens and L&T as well. So for immediate bounce back capital goods remains a good favourite. One might get around 8-15% upsides on these stocks."
 
He further added, "Banks as a sector is another sector which probably now look like that they have formed some kind of a base. A lot of banking stocks like Axis Bank, ICICI Bank, SBI moved up very nicely today. Basically, what they have done is that the lows, which they tested in February, have been tested again or prices have gone back to those bottoms by just a margin of 3-5% and then again started to move up. Banks and capital goods are the sector, which might be in trading favour if one takes 1-2 weeks horizon."