Avoid midcap space: Siddharth Bhamre

Siddarth Bhamre of Angel Broking told CNBC-TV18, "We are seeing upward momentum in most of the counters. One space which I would completely avoid is midcaps. People would again start getting into midcap stocks. One more space where I would probably confine myself not to trade over is the public sector undertaking (PSU) banks."

"Now this time we will include some of the large-cap names also like State Bank of India (SBI) and Punjab National Bank (PNB). IT is doing well but we won’t get into names like Infosys above Rs 4,000 level or Tata Consultancy Services (TCS) at current levels. Wipro is better to be in IT space. We are also avoiding pharma, we are more into high beta space," he added.