Bullish on metals, IT and banking: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in a chat with ET Now shares his views on sectoral outlook.

On account of pullbacks, how do you assess the markets?

Petronet has done extremely well today, broken out to new highs so for me a front liner is a stock that is making new highs. So front liners overall you will start getting pullback rallies metals, IT and banking will do extremely well because they have been beaten up the most. I think rallies in infrastructure, realty will peter out much faster, in capital goods will peter out probably much faster than the rest of the market so may be you will get another couple of 100 points on the Nifty around 5130-5150 in case we are able to now build on these gains.

So these are the sectors nothing really specific that is looking strong on the large caps but there are several midcap stocks which are doing well like Petronet, Lovable or Bata these stocks continue to move higher. So probably you have to focus yourself into some spaces. GMDC did extremely well for some reason and that is now on the verge of making new highs so that is another stock on dips that can be bought.