Sell OMC stocks, says Harendra Kumar

Harendra Kumar of Elara Capital told CNBC-TV18, "We are not looking at the earning cycle to initiate trades for midcap stocks that would be extremely risky. So, we are looking at ideas on the structural basis. However, the sector that we like is the gas sector. There are some trades coming out of Petronet LNG and Indraprastha Gas for technicals. I think this sector will continue to do very well.""The trade that I did mention was sell oil marketing companies (OMCs) and buy gas. I think that will continue and the numbers and volume growth for gas based sector will continue to rise," he added.