See 40-50% upside in ADAG pack: Gautam Shah

See 40-50% upside in ADAG pack, says Gautam Shah, Sr VP & Technical Analyst, JM Financial.

Shah told CNBC-TV18, "There are a few major largecap stocks which look good for 15-20% upside from current levels. The metal index after that huge move from 9,000 to 13,000 on the BSE metal index, it's seen a very good cool off and now it is setting up, so stocks like JSW Steel, Tata Steel they all have a good setup for a substantial move."
He further added, "Technology would underperform going forward but banking and the ADAG space, I said this last time as well, I think 2012 is going to belong to ADAG. So this correction that we have seen in this segment in the last few weeks is a golden opportunity because you are going to see gains as much as 40-50% from current levels."