Experts list out sectors which are strong now and which will be in the near future as well.
However, Sumeet Rohra, Antique Stock Broking, asks investors to avoid metals.
Deven Choksey of KR Choksey Securities, advices one to go for stocks like Reliance, Maruti, Tata Motors, which are looking good for a one year outlook.
Sanjay Dutt of Quantum Securities says that money will move into technology, banking and textile sectors now.
He says, "To an extend the market fall is bullish for a lot of other places in the market which haven't performed. I think we will see a lot of money now getting out of some of the momentum plays, particularly from the metal plays and moving into some of the defensive plays. My sense is that technology, banking and textiles is where positions aren't over bought. These sectors have relatively low valuations compared to others. I think we will probably see money moving in here."
He adds that whether the market corrects more or stabilises, that will be the function of what weightage these sectors will have. "I think banking, textile, technology and oil & gas to an extend, will witness money moving into them. If the oil price issue is resolved in the next few weeks I think we will see some money moving into the oil marketing companies."
Sumeet Rohra, Antique Stock Broking is bullish on stocks like Reliance, Zee Telefilms, Hinduja TMT, Micro Technology, Hotel Leela, Kernex Microsystems, Prime Property, look from 6-8 month view.
Gajendra Nagpal of Unicon Investment Solutions is bullish on construction, infrastructure, engineering, and cement.
"I would be more bullish on the domestic plays rather than getting into metals, because metals at times do not get governed by the domestic factors. They get governed by the global factors. So to that extent if I am taking a call on the Indian economy, then there is a growth of 7.5 - 8%," says Nagpal.
He adds that manufacturing and services sectors are showing robust growth and if monsoon comes in fairly good, then there will be robust GDP growth.
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