FMCG a big no-no for now, says Enam's Nandan Chakraborty

Worries in Japan, Europe and Middle-East haven't been able to buckle down a resilient Indian market as of today. "Instead of either climbing upper wall of worry or buckling under it, the market has basically just kept trading along. This gives some sort of a confidence that probably the bottom that we saw in the last few months is the bottom for now," says Nandan Chakraborty of Enam. The indices will be range-bound in the next couple of months, according to him.

One knows that the base has been made and the risk return looks good. "So, it is time to invest in large-cap stocks in certain sectors and keep them for a year". He is neutral to underweight on the oil & gas space and advises investors to "avoid" FMCG stocks due to rising commodity prices. Don't miss out: Raamdeo Agarwal's views on the market He sees no great reason for market to jump in the immediate term. However, he is quick to add that clarity on a slew of reforms expected to start once the elections (in June) are over, will act as a trigger for the indices. But for now, risk-return looks good in current market, he says. Oil, however, continues to be the biggest worry, according to Chakraborty. "It is something that is unpredictable and should be kept apart from the calculations." How long will the confidence last?