Moneycontrol
Last Updated : Jan 22, 2018 05:26 PM IST | Source: CNBC-TV18

See big opportunity in IT; worst over for Housing fin cos, best yet to come: Experts

Basant Maheshwari, Author, Portfolio Manager is still upbeat on the housing finance space and says the temporary slowdown was more because of RERA but that is behind us.

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The day saw steady gains for the market.The bulls are not yet ready to loosen their grip on the market.

The 30-share BSE Sensex rallied 286.43 points or 0.81 percent to 35,798.01, which is 200 points away from 36,000-mark. The 50-share NSE Nifty jumped 71.50 points to 10,966.20, which is 34 points away from the 11,000 level that technical as well as fundamental analysts have been waiting for.

Basant Maheshwari, Author, Portfolio Manager says if one looks at the market on a broad scale there is no sectoral approach at the moment, which means people are chasing price and not performance and so in this kind of market it is easy to make money but difficult to retain what you have made.

According to him, soon enough there will be a rethink on stocks that have been going up. In the current kind of market, it would be good to focus on solid names, says Maheshwari.

He is still upbeat on the housing finance space and says the temporary slowdown was more because of RERA but that is behind us. So the worst is behind and best is yet to come. This quarter will set the pace and April onwards we could see the entire sector take off again. He says they have only added more names and haven’t sold anything. He says they have been betting on private financials and consumers.

Ashwani Gujral of ashwanigujral.com says one 11000 on Nifty is scaled, midcaps will again start to rally but midcaps had their run and this run belongs to largecaps. So, maybe once the largecaps start to consolidate money will sharply move into midcaps. Therefore, while select midcaps may outperform, overall the midcap index might not outperform the largecap indices for couple of weeks.

According to Gujral, IT is where the big opportunity is and may not correct even if the market corrects, while other sectors which have gone up 10-15 times are likely to correct.

Other technical and fundamental guests, SP Tulsian of sptulsian.com, Mitessh Thakkar of mitesshthakkar.co, Mayuresh Joshi of Angel Broking and Abhimanyu Sofat, IIFL also shared their view on specific stocks and sectors.

For full discussion watch video
First Published on Jan 22, 2018 05:24 pm
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