Midcap portfolios may outperform largecap indices: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his view on how the market may behave in the coming week.

ET Now: How would you sum up this week? We saw benchmark indices gaining 3-4 per cent during the week. What does it suggest for the coming truncated week?

Ashwani Gujral: The ongoing market rally is choppy in nature. This was the second week when benchmark indices were struggling to move higher. Having said that, we are into a midcap rally. The midcap index is at all-time high, but there is nothing significant on the largecap space. Banks are not participating. The whole of largecap rally is fairly patchy. Midcap portfolios may perform much better than largecap indices. The next port of call should be around 8,900-8,950 over the next couple of weeks.
Nifty has been the best performer so far, followed by CNX IT and possibly the worst performer is the CNX Bank. So, Nifty seems to be the best index to trade.