Not the time for buying spree: Prakash Diwan, Asit C. Mehta Investment Intermediates Ltd.

Prakash Diwan, Head-Institutional Clients Group, Asit C. Mehta Investment Intermediates Ltd., talks to ET Now on the market outlook.

So what is it that you are recommending in terms of a buy or is that not the approach at this point in time?

No, there have been some trading opportunistic nibbling into some of these counters. For example we had ICICI Bank sub-700 levels, we did get people to buy in. We had a little bit of a bounce back on SAIL and Tata Steel that we kind of leveraged on but then these are not necessarily a buy and hold kind of a recommendation if you really ask me because the staggered buying that we have been recommending has been actually getting too staggered because with every new lower level, people actually start questioning the previous one.

Essentially what we are looking at is low beta but some positive alpha stocks and they are difficult to find but whenever you do, you make sure that you at least take exposure unflinchingly and stay put, so it is a typical Sun Pharma, FMCG stuff, some of these Dabur, Godrej, that’s where we are kind of letting people get into but not otherwise on a buying spree.