Prefer largecap stocks: Siddharth Bhamre

Siddharth Bhamre of Angel Broking told CNBC-TV18, "There are some stocks which are doing good, in fact on Tuesday we were mentioning to buy Indian Oil Corporation (IOC). Our technical guy was suggesting buying Hindustan Petroleum Corporation (HPCL) and both are doing well. Tata Chemicals and UPL are other stocks which they have recommended to go long on, they are also doing well."

"I sense that midcap as well a whole may not go up but selected stocks would go because those people how are still short and rolling over their short position, will try to cover up their losses by going in some high beta midcap stocks which they feel would do wonders for them and may get stuck there again. Therefore, I won’t touch midcaps barring few names which I took and as and when we get some good ideas from very short-term perspective, from three-four days perspective," he said.

"My main preference would be index and then largecaps. I may not touch midcaps barring few stocks here and there."