Pharma, FMGC safe space for investment: Mohindar

Pharma and FMGC safe space for investment, says Rahul Mohindar, Director, viratechindia.com.

Mohindar told CNBC-TV18, "If people are looking for safer sectors, pharma still has a lot to offer and FMCG has definitely been outperforming. So these are two spaces where you might see some semblance."
He further added, "Another area which I think one could start nibbling into is some of the auto stocks, which have got beaten down, so right from the heavyweights one could look at them. Even auto ancillaries, I think that's an interesting sector, so probably one could start looking at that sector but on a staggered basis get into these symbols."
"On the Nifty my view is we would continue to be more of a sideways in the short-term and the medium-term would continue to drag us down. I don't think we are really looking at any significant breakout. 4,700-4,750 accepted this is really big support, but I think we really need to wait and watch from here. I don't think there is a sense of clarity on the upside as yet."