So the markets have gained 8% in a span of less than a month. Relief rally in a bear market, or genuine revival? The results released so far have been viewed in a positive light with the IT majors being in line or exceeding it, auto companies largely in line though circumspect of the future and the bank NPA bomb has not exploded yet with Axis numbers and HDFC Bnk numbers bearing out.
SO what I mentioned in my last post largely remains true with debt yield locking (M2M strategy) and dipping into equity. I would not be specific sector long, more stock specific, though some sectors like Power, Cap Goods, Infra - largely cyclicals...may take their own time to revive due to macro and policy issues.
What to do for now? Book partial profits in auto, FMCG etc, which has moved smartly, start taking small positions in cyclical names - probably I dare say some banks, even GMR, Suzlon, L&T, ICICI Bank, Axis Bank, M&M, Hindalco, Exide & Adani Ports.
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