Look at frontline stocks for long term investments: Choksey

Deven Choksey of KR Choksey Securities told CNBC-TV18, "There are lot of opportunities still available in the frontline stocks and it all depends whether you want to buy for a very short-term or momentum or you want to buy for a long-term. To my mind if you are considering anything for long-term for investment, certainly the market is throwing a lot many opportunities. The largest private sector refiner is much better placed compared to many of the public sector undertaking (PSU) oil marketing companies (OMCs). The largest PSU banks is giving the good amount of opportunity given the valuation at which it is quoting and given the fact that many of the infrastructure projects are now getting started obviously I think this stress on the non-performing asset is also expected to come down eventually."

"At the same time in the commercial vehicle space, the largest commercial vehicle player is available at a reasonably and decent valuation. So likewise in the frontline stocks you have plenty of them even for the near future to long-term, they are available at a very good valuation and they are available at the opportunity level. At the same time some of the good quality midcap stocks in different space, be in agri space, be in media space or be it the IT space where you have Digital India game plan is being rolled out, some of the companies are very nicely placed and those who are willing the portfolio for at least two years and above, for them it could be a good opportunity," he said.

"Certainly if anything which comes up as a correction in the market or a dip in the market due to any event be it global or local, I think this could be a good time and opportunity to accumulate and build a portfolio with some good quality stocks," he added.