Prefer Berger Paints, Asian Paints: Amit Khurana

Amit Khurana, Co- Head Equities & Head of Research at Dolat Capital Market told CNBC-TV18, "We did have a tactical trade started after the state election results came out on the cyclicals which was more like a hope rally and I guess they have sustained reasonably well. If you look at some of the cyclicals they have been able to sustain their valuations over the last couple of weeks but my sense is that they have fairly well captured a potential recovery that you will get to see in FY15, so unless you see a very stable coalition come into power post the May elections these may not really sustain. The dilemma continues. We would prefer really some of the defensives. Portfolio strategy remains bet on the stocks rather than the sectors and do not build in too much of optimism at the very start. So play it with a bargepole in that sense."

He further added, "On the consumer side we prefer the paints as a play structurally. We continue to be fairly positive on Berger Paints as a story. We believe there is still enough potential over the next few quarters. We certainly like Asian Paints at this level. The results really were not that negative as the market reaction was. So that as a theme has continued for us."

"In IT we have preferred Infosys for sometime. We also believe that MphasiS could possibly be bottoming out and if you want to take a structural call at that as the HP business gets more and more diluted and margins start showing a traction over the next two quarters."