Siddharth Bhamre of Angel Broking says he prefers ICICI Bank in the banking space. According to him, one may initiate some short positions at higher levels in metal names like Tata Steel and Hindalco Industries.
"In capital goods and infrastructure space we wouldn't like to go long on Bharat Heavy Electricals (BHEL). We would probably initiate some short positions at higher levels in metal names like Tata Steel and Hindalco Industries . So it would be very stock specific within sector. At the same time one is hedging these short positions by forming a ladder or ratio spread in Nifty," he said.
READ MORE ON Siddharth Bhamre, Angel Broking, Axis Bank, ICICI Bank, Bharat Heavy Electricals, BHEL, Tata Steel, Hindalco Industries
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Economy turning for sure but cant say for mkts: DSP