Buy Hindustan Unilever on declines: Mithil Pradhan

Mithil Pradhan of Violet Arc Global Managers told CNBC-TV18, "I would like to stick to the sectors which are already outperforming the market. So, of course we are looking at stocks like Cipla and Biocon in which we have been very bullish on because it has given a very long term breakout. So, that is one stock I would recommend. Hindustan Unilever (HUL) is a buy on declines, we will keep buying on declines as long as we see that the symmetry is not broken and which has not broken as of now. We are looking at housing finance names like LIC Housing Finance and GIC Housing Finance.""The first index that broke out above a new high was the midcap index and it wasn't the Nifty or the Bank Nifty, nothing of that sort. It is the midcap index which is actually driving the gains and the public sentiment towards the stock market. So, I would suggest look at only midcaps right now, they are showing an absolutely great outperformance on charts against Bank Nifty and that is the way to go forward," he said.