Expect stock specific activity in midcap companies at 6,030-6,050 levels: Avinnash Gorakssakar, Miintdirect.com

In a chat with ET Now, Avinnash Gorakssakar, Head of Research, Miintdirect.com, shares his views on the market outlook:

ET Now: How do you see post-Diwali things panning up for market?

Avinnash Gorakssakar: As long as FII liquidity continues clearly, we may not see a kind of a complete panic.

There could be some correction in the markets as the market has gone up fast. However, levels of 6,030-6,050 are crucial levels. As long as the market holds on to these levels and FII liquidity continues to come in, there could be lot of stock specific activity in midcap companies where earnings growth for FY'14-FY'15 is strong.

Clearly, within the large caps, the rate sensitives would under perform but we could see selective bouts of buying in midcaps.