Markets choppy & rangebound; not much upside expected in Nifty: Siddharth Sedani

Siddharth Sedani, Sr Manager (Portfolio Management Services), Microsec Capital Ltd. in an interview with ET Now talks about Nifty outlook.

We have reached the top end of the range pretty much 5300-5400, where do you see upside levels now from 5230 on the Nifty?

We are more at the upside only. I do not think there would be much more upside from hereon because we are into a market which is really choppy and trading in the range itself. So we are at the upside. Only to be invested in this market is quality stocks where we find valuations very comfortable and compelling than the index is.

One should remain invested with valuable stocks and in terms of book profits in the stocks where it is reaching at a 52-week high and in terms of getting where the valuations are overstretched. In the stocks particularly where the valuations are overstretched, that can be sold.