Buy mid and large caps for long term: Mehraboon Irani

ET Now spoke to Mehraboon Irani, Principal & Head-Pvt Client Group Business, Nirmal Bang Securities, about market outlook.

What has been your portfolio strategy of late?

We are trading on the long side as of now because you cannot stand in front of the money that is flowing in and you really do not know as to how much money will come in and how much more will go up. What I was trying to state is buy into companies, which you understand, in which you have the conviction and which has done a fairly decent job you feel. You go to management, you talk to them, keep yourself updated. There are not many companies available right now where possibly you should continue to remain invested but from the trading on the long side, we are advising investors to trade on the long side as of now and possibly not get married to stocks right now. It is a mix of large caps and mid caps. There are quite a few mid caps, which I feel are attractively valued even now where I feel there is an opportunity but mid caps is a very opaque term. The mid caps, people feel virtually anything and everything that is not a large cap is a mid cap and that is where I am not giving my permission to my investors to just buy across the board but there are companies, which we like.