TCS, Infosys top picks in frontliners: Salil Sharma

TCS, Infosys are the top picks in frontliners, says Salil Sharma, Salil, Kapur Sharma & Co.

Sharma told CNBC-TV18, "Frontline technology shares are going to do well, so the top picks are both TCS and Infosys. As far as other sectors are concerned surprisingly cement sector has shown a lot of resilience and it is likely to do so in coming year also, here my top two picks would be Ambuja Cement and ACC." He further added, "In metals stock, there can still be another 10-15% downside because there is no sign of bottoming out in any of those front line metal shares and the metal pack being so closely related to the international market specially the news coming out of China, there is total confusion as far as those signals are concerned. So at least what the charts are showing is that they are making new lows with every fall in the market and they are the once which are leading the market downwards. So I would refrain from any kind of bottom fishing there." "The Bank Nifty is weak because it broke below 8250 level which was important for it and from where it trying to build some kind of base and go up. Now that had broken down somewhere around the 8000 plus territory. Chances are we could test that 7500-7600 low which we made some time back. So I would be still skeptical about the banks."