Metals, capital goods, auto likely to outperform: JM Financial

Gautam Shah of JM Financial says technically, after the sideways action of the last 4-5 days the move was quite expected as the Nifty/Bank Nifty had pending upside targets.

The index has seen a huge 600-point jump in the last three weeks and this at some stage would warrant a correction, he adds.

He further says he does not have a set-up yet to suggest a big pullback could play out. The Bank Nifty could see some pullback from the 18000-18200 zone, according to him.

Metals, capital goods, mid-cap and auto sectors are likely to outperform, Shah says.