Bullish on market: Jitendra Mehta

Jitendra Mehta, Technical Analyst, Edelweiss in an interview with ET Now talks about his outlook on the market.

One word from you regarding the market movements right now. Which sectors do you find value in and going forward for the month of July where do you think leadership is going to come from?

We are quite bullish on the market. We are looking at 5500 on the upside and oil and gas and capital goods will continue to rally further from here also. We also like pharma and FMCG. There could also be preferred longs. For some short term, next week we might continue to see some pressure on the PSU banking names, particularly SBI and Bank of Baroda and types. Otherwise broadly, market should be heading again northwards.