Gautam Shah, Founder & Chief Strategist at Goldilocks Premium Research, is recommending investors to move invest into FMCG domain — like HUL, ITC. “Some of these stocks will stand out while the markets go through their routine correction.”
On banks, he said, “Banks are still weak, they have been underperforming all along and because banks are high beta they are the ones that lose maximum ground when market go through such correction. So, banks are a completely avoid at this point of time. There is some more scope for downside.”
He added that his top pick for 2021 is IT and FMCG space. “This is a good time to stay defensives and really move out of high beta.”
On autos, Shah said, “The fundamentals are completely supportive, we have all heard the numbers of the ground. Stocks like Maruti, Bajaj and Tata Motors are seeing significant upside so this correction is a great buying opportunity in FMCG and autos.”
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