Don't see markets going below 8250-8300 levels: Ambareesh Baliga

In a chat with ET Now, Ambareesh Baliga, Market Expert shares his view on markets:

ET Now: How do you outline the market in the session today – 8,550 was held but the market is still not going anywhere, it is more stock specific action that is dominating trade?

Ambareesh Baliga: Stock specific action will continue and you will have only those stocks where there is momentum. In fact, money would be following into only those stocks and at the same time clearly it is a buy on dips market because I do not really see the markets going below 8,250-8,300 levels, unless that happens, clearly it is a buy on dips market.

ET Now: What are your specific recommendations?

Ambareesh Baliga: This is a medium-term recommendation. I would recommend Pidilite, again extremely good brand, good performance and what has happened in the recent past because of the crude oil coming down, this has also reduced the raw material cost for Pidilite but the best part is that they may not pass it on to the consumers because of the pricing power which they have, so this stock can possibly move to levels of about 560 to 580.