Bullish on IT and pharma: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on markets.

ET Now: First day of the new series and I take it into account that traders may not approach the first fortnight of the new series with that much gusto because we run into the budget as well. How are you approaching trades today and what are the specific stocks that you are recommending?

Ashwani Gujral: CNX IT and CNX pharma, both indices have taken the lead and chances are they could outperform as people realise that policy is not an easy business. Chances are that you do more correction on policy sensitives. Nifty will remain sideways. It does not really make too much of a difference, whether it is holding 7500 or breaking, because you have counter balancing forces. But what is important is that the leaders of last two-three months are now taking a back seat and you have fresh leadership for the market on the upside that is what the big bars on most IT and pharma stocks are indicating so the view is that stay with IT and pharma till some solid leadership comes from the other cyclicals.