Budget a market trigger for 3-6 months; IT may rise: UTI MF

After the recent rally seen last week, the market is going consolidate in the near-term, says V Srivatsa, EVP and Fund Manager at UTI MF. But the pre-Budget rally will start soon after, he adds.The Budget is going to be the biggest market trigger for the next 3-6 months, he says. He is positive on the IT sector, saying that its valuations look very attractive and the recovery being witnessed in the US economy could mean that IT stocks may soon rise.He is cautious on the NBFC and bank space. For the pharma stocks, Srivatsa suggests holding on as the valuations remain positive and may rise in the long-term.Watch video for more.