Morgan Stanley overweight on energy, industrials, telecom

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Here is expert equity call for the day on how the markets are expected to trade:

Ridham Desai, Morgan Stanley: Investors should buy the dips in India with an expected return of around 23% to the end of 2011. We are overweight energy, industrials, materials & telecom and underweight healthcare, utilities, consumer discretionary, financials & technology. Our focus is on sectors with attractive valuations, reasonable earnings momentum and a negative consensus view.