Forget Nifty, focus on select midcaps, largecaps: Quantum

Indian market may be a bit tizzy but is better off when compared to its global counterparts. On a 52-week rolling basis, while the Sensex is up about 5%, Japan is down about 6-7%, says Sanjay Dutt director of Quantum Securities. "It is time to go and buy select mid-cap and large-cap companies with real value," he says. However, he adds that confidence has not returned yet in beaten down mid-caps. "That would take some time."

With amplified confidence he says he wouldn't be surprised if the Nifty breaches 5,700. "There is no reason why we will not break the 200-DMA of 5,650," he says. He is reasonably confident that the bottom is in place now, at 5,200. "I don't think that will be breached. In fact, there are chances that the Nifty may not breach 5300-5400 also."

Positive on Reliance Industries and the entire ADAG pack, Dutt says it is good to trade in Reliance Communication in the short-term. "We are positive on Reliance Capital in the long-term," he adds.

What else is Sanjay Dutt betting on?