IT and pharma will outperform Bank Nifty relatively over the next couple of years: Gaurav Bissa
Gaurav Bissa, VP, InCred Equities, says “our strategy and something which we had discussed with our clients and we have recommended aggressively to our clients as well as we are playing IT index as a whole for a fresh lifetime high in the next six to eight trading months. IT is looking strong but Bank Nifty has been so-so. As a strategy, we have recommended that IT and pharma will outperform Bank Nifty relatively over the next couple of years.”
First of all, a quick view on the IT index along with the Nifty.
If we talk about Nifty IT, it had a good amount of consolidation, it was consolidating for a year and then we witnessed a breakout around 32,000 odd levels. It made a retest and now we have seen IT going higher. The next hurdle at this point of time comes around 36,000, 36,500. So, probably, another 1000 points upside cannot be ruled out from the current levels and there we can see some consolidation.
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Overall, our strategy and something which we had discussed with our clients and we have recommended aggressively to our clients as well – IT index as a whole – we are playing for a fresh lifetime high in the next six to eight trading months. In my opinion, IT is looking strong and you made a very valid point that IT has been very strong but Bank Nifty has been so-so and now as a strategy we have recommended that IT will outperform Bank Nifty and pharma will outperform Bank Nifty relatively over a period of next couple of years.
In my opinion, IT is the space, any
