Exit high beta stocks like real estate : Anagram Capital

The bottom fishing candidates have come up a little bit. Is this still a good time to nibble at or would you rather book profits in a couple of these high beta pockets that have run up a bit?

Avinash Gorakshekar: We are advising clients to actually get out of high beta stocks, especially real estate stocks where we see a momentum kind of movement and this being an earnings season, we have been telling clients to actually wait and watch. We would be having the Union Budget in another two weeks time, so that is going to be a big trigger point. Our sense is we have been cautiously telling clients to actually keep cash ready.

The way the market has been behaving in the last couple of days, in fact very clearly we have not seen the markets actually correcting significantly, they go down and then they again go up, so this kind of yoyo ride will continue for sometime, so from an investment perspective, we are telling them to wait and watch. Probably a little more time before one could actually start nibbling in a big way, not at the current levels.