Last year's underperformers will lead the cycle: Sanjay Dutt, Quantum Securities Pvt. Ltd.

Sanjay Dutt, Director, Quantum Securities Pvt. Ltd., in a chat with ET Now, gives his market outlook


What would you buy at current levels?

I would get into a contrarian play. I would in fact want to get out of the overcrowded trade at this point of time. The overcrowded trade lies in the defensives that is in the pharmaceutical, FMCG and technology. That’s the trade I am most worried about, so I would want to get out of that trade at this point of time or even those investments to some extent and do a contrarian trade. My sense is that Reliance Industries should lead the rally now. That’s one stock, which will lead the market up and similarly other contra plays, which have underperformed for the last year-and-a-half or so would now lead the cycle and that includes interest rate sensitives because they are pricing in the worst at this point of time.