Aditya Arora on where money can be made in pharma space
economictimes.indiatimes.comAditya Arora, Adlytick, says: “I would like to maintain a cautious view on the market because it is not a broad-based rally. It is a narrow rally and stock and a specific rally. Smallcaps are correcting and on the other hand, safe havens like gold and bullion are doing well and pharma is also doing well. I think money is to be made on the long side on the pharma space and on the short side on high beta counters.”
What are you making of the trading setup?
Aditya Arora: As you rightly said, the market is lacking momentum and is lacking some strength to inch to newer highs although certain pockets are doing well, like Nifty PSE basket, the energy basket. But on the other hand, the smallcap index is correcting. More stocks are declining compared to advances.
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One more important observation is that on Friday, gold inched up 2% in a single day, that is a very big move and it closed at multi-week high, multi-month high. I would like to maintain a cautious view on the market because it is not a broad-based rally. It is a narrow rally and stock and a specific rally. Smallcaps are correcting and on the other hand, safe havens like gold and bullion are doing well and pharma is also doing well. I think money is to be made on the long side on the pharma space and on the short side
