BHEL & Ircon are real "fire in the belly", will outperform till elections at least: Sanjiv Bhasin

economictimes.indiatimes.com:

Sanjiv Bhasin, Director, IIFL Securities, says “in midcap IT, we are overweight on LTIM. We have been very positive on HCL Tech and Wipro. Wipro is our top largecap pick along with HCL Tech. However, the real fire in the belly is BHEL and Ircon. Put your money there because those are going to be the real outperformers at least till the elections.”
Yesterday there was a good short covering. The May series will see a confluence of a lot of factors – the progress of monsoon, progress of polls, progress of earning season and now the US data. What do you think? Sell in May and go away will work or just like last time round, it would not work this time as well?
Sanjiv Bhasin: You have been on a nice holiday in April. I suggest you take another break in May because yes, selling in May and going on a holiday is very much on the card. Markets have ignored all news and are relentless in their rally to upside and now all good news including NDA getting 450 seats on the poll front are also getting priced in. So, I would advise a lot of caution, particularly in stocks and sectors, which are not aligning with the growth which has come.

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So, be a little cautious and take some money off the table. Leave the last 200 points on the upside. The US is looking very precarious. Either way,