Abhay Laijawala, Deutsche Bank says he has set December 2016 Sensex target of 29,000 implying an upside of 11 percent.
He believes corporate earnings are likely to turnaround in 2016 and the worst is over.
Large cap top picks are BPCL, Godrej Consumer, Lupin, M&M, NTPC, Shree Cement, SBI, Sun Pharma, Titan & Zee Entertainment, he says.
Midcap top picks are Bajaj Corp, Container Corporation, Cummins, Federal Bank, Gujarat Gas, JSW Energy, Just Dial, Marico, Shriram Transport, SKF, UPL & Whirlpool. Non-consensus sell ideas are Dr Reddy's Labs, L&T & Tata Motors, he adds.
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