Buy ITC on dips: Siddharth Bhamre

Siddharth Bhamre of Angel Broking told CNBC-TV18, "We have missed out on these rallies, which have come in HUL and Asian Paints. We have done some trading but we have eaten the entire move. It may sound biased but I am not expecting significant rallies from current level. These rallies happened when markets were quite turbulent. People were running for safety and finding stocks where the input cost would reduce and that is where the fund flows were moving from a safety perspective as well. When you are seeing that FIIs flows are fine, we are talking so big in terms of macroeconomy how the push would happen, I don’t think the fresh fund allocation would go to these names."

"It is quite possible that some of the funds would move out of these names because they have done well and got into high beta space. So I am not very optimistic on these names from current levels and if I want to do something over here then I am buyer in ITC on dips," he said.