Expect the market to target 8700: AK Prabhakar, IDBI Capital Markets Services

In a chat with ET Now, AK Prabhakar, IDBI Capital Markets Services, says midcap banks like City Union Bank, Karur Vysya Bank they are likely to do very well. Edited excerpts, Edited excerpts

ET Now: Let us talk about the Nifty levels. You were telling me that you expect the rally to continue. Talk about the levels to watch out for in the next few days.
AK Prabhakar: The market is in the final stage of the rally where it will be very fast. By July end, we expect the market to target 8650 to 8700 and beyond that, it is very difficult to judge at this point of time but midcaps are likely to outperform and we are focussed on midcap.

ET Now: So let us talk about some of the midcap names very quickly. Give us some top ideas which you guys are researching on?
AK Prabhakar: See we got a report on Shirpur Gold, Motilal Oswal broking is one industry which will do very good. We feel that there is lot of interest. So broking as an industry will do very good.

Cyient in IT is likely to do very good. NBCC in the infrastructure space has made all-time high that is likely to do very good. Power Grid which is index stock but that is likely to do very good.

Midcap banks like City Union Bank, Karur Vysya Bank they are likely to do very well.