Festive season, Cricket World Cup coming, what stocks to bet on now?

economictimes.indiatimes.com:

Dipan Mehta, Director, Elixir Equities, says “look at the kind of festive season planning which is taking place. Retailers, be it in electronics or consumer goods or even some of the other consumer businesses, are revving up to having a fabulous festive season as well, maybe some amount of dampener because of a subpar monsoon. But by and large, we are going to see hectic spending taking place for the next few months’ right up to December.”
We are already at Rs 100 on Zomato. I mean, the market has clearly moved at almost 60% odd year-to-date from those R 40 odd lows. Would you still recommend buying into Zomato, if at all you like the story?
Certainly, we like the story and clearly the management is following through on its plan.

The food aggregator business has certainly turned EBITDA positive and that is quite impressive. And going forward, that particular division will get solid into profit. It is just that I still remain a bit uncertain about the big commerce business, the Blinkit division which they have acquired.

Maybe the break-even over there is a few quarters, or maybe a few years away or so. That is a business, of course, which is much larger than the food aggregation business but it is something which will have a higher gestation period as well.
So from that point of view, I just have to be a bit cautious at these levels. The stock has run up significantly and maybe at a correction, it may make more sense to enter Zomato.

That is true for many midcap stocks as well. At this point of time, a lot of these stocks have gone up 30-40% and even doubled in the last few months or so. So from a margin of safety perspective, from a risk-return profile perspective, it is better to just wait and watch and stay away from