Time for greed over but still betting on 6 metal & specialty chemical stocks: Sanjiv Bhasin

economictimes.indiatimes.com:

Sanjiv Bhasin, Director, IIFL Securities, says in October, when the FII short position was over 74%, that was when one had to be greedy. Now they have turned long on 18% and there is no short position. So, now, one should be fearful. You have to take it at your own risk reward. I see no risk reward right now till the earnings season is over as a large part of the positives of earnings are already priced in.”
Bhasin says: “I continue to be positive on a buy on Vedanta on any decline and a buy on Nalco and SAIL. In specialty chemicals, UPL, Navin, Aarti are looking good.”
You had earlier warned that this month could get a little volatile and looking at the CPI and the PPI print in the US and the way the markets panned out from there, it seems like we got to brace ourselves for a little bit of global volatility?
Sanjiv Bhasin: That is very much on the cards. However, like you see in the US, the Magnificent Seven are again touted to have their best week in the last three. So, weak data or hotter than expected inflation is all getting absorbed. It is typical of a bull market which is ignoring bad news just on the pretext that people are feeling missed out.

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I still think there is a lot of froth on the markets including the domestic market. If you just take a look back, if