Manoj Murlidharan Vayalar of IIFL PReMIA is of the view that one can invest in pharma and cement sectors.
Vayalar told CNBC-TV18, “I feel rather than looking to counters, it would be sector specific because if you remember the contract of September, metals usually has a weightage of around 8.9 to 9 percent of the entire marketwide open interest which was just 6.5 and the last three months if we see there is huge buying which has come in and it has come back to 9 percent.
He further added, “Now I feel pharmaceutical is one sector and cement possibly, these are the two sectors where money can still pour in. If you want to trade this range, I feel pharmaceutical would be the best sector needless to say if it is a midcap or a largecap. I would stick on to pharmaceutical and defensive like ITC which would be my top pick.”