Amit Gupta of ICICIdirect told CNBC-TV18, "The capital goods space, so far had not participated much in the market. Larsen & Toubro (L&T) has moved beyond Rs 1,500 and I think it is moving towards Rs 1,650. So, once the heavyweight has started performing, I think the other stocks from this space can start performing well. If we can combine with the power space, capital good segment is buzzing a lot more, like Siemens. It has consolidated near Rs 1,200 level for a pretty longer period. In fact in the recent quarterly results, it had made a high near Rs 1,250 and then it came down towards Rs 1,200 levels and there was almost one year high volumes we saw near Rs 1,200. Since then, for three or four weeks it has spent there and now this move has started. I think this move should take Siemens towards Rs 1,340-1,350 also looking at the base creation near these levels. So, this is one stock we are recommending to our clients on the long side."
"Another one from the consumer space, Godrej Consumer has remained near the life highs, but it has spent almost five or six months now, so, that means whosoever has tried to go short during this period because the stock did not fall, that particular short, now is likely to be covered. So, the stock is likely to move up," he said.