Infra and defence oriented stocks should pick up: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral of ashwanigujral.com, shares his views on the market. Excerpts:

ET Now: What is in store for the week ahead? Do you think there is strength or will it be a laboured move?

Ashwani Gujral: Yes the market continues to head up. We are still in a trending phase because three days back we have broken out of consolidation plus there are several stocks and sectors participating. At best you could see a churn but overall it seems that we should head on the upside and possibly you can call it a pre-budget rally and now budget oriented sectors like infra, defence, etc, they should also start to pick. So overall people should remain long with 8400-8430 type of stop.

New sectors are breaking out. These are good period particularly for midcaps and small cap kind of portfolios. So stay into 10-stock portfolio and that should do fairly well.