Avoid going long on high beta trade; stick to defensives: Sanjiv Bhasin
«One thing is consensus that they will come to power maybe with not 370 but maybe 300-320 that will be accepted by the market and we may be in a range with a day of profit booking. Does that change the trend? We will know only by the end of the day,» says Sanjiv Bhasin, Director, IIFL Securities.
The initial polls are indicating that markets in a sense are getting what they want in terms of an election verdict. So, why is there a such a fall?
Well, clearly a large part of everything was played out yesterday. The biggest bout of short covering. Now, it is difficult till 12 o'clock to get clear trends, but like I said if it is not such a big majority and specific groups which may had outperformed particularly PSUs, Adani and the likes, there may be a little bit of froth over there.
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Offering CollegeCourseWebsiteIIM LucknowChief Operations Officer ProgrammeVisitIndian School of BusinessISB Chief Digital OfficerVisitIndian School of BusinessISB Chief Technology OfficerVisitOne thing is consensus that they will come to power maybe with not 370 but maybe 300-320 that will be accepted by the market and we may be in a range with a day of profit booking. Does that change the trend? We will know only by the end of the day.
But I do not think it is a time to short, but I do not think it is the time to go long on the high beta trade, the Adanis, the PSUs just be cautious there, try and build your portfolio on stocks which are giving you opportunity, momentum like HDFC
