VK Sharma believes the pharma sector is poised to do well and weakening rupee augers well for the pharma companies.
VK Sharma of HDFC Securities says he would not short the Nifty at this point. According to him some of the fundamentals for the market have changed for the worse especially for power, mining and banking index.
There is not much one can make in terms of going short in the Nifty today.
The US the indices have rebounded. Also, the NYSE Arms index closed above 2 points yesterday and in the past several times, whenever it has closed above those 7, the index goes up when the markets fall, says Sharma. So the markets have gone on to rebound and make a new high, he adds.
Sector specific, Sharma believes the pharma sector is poised to do well and weakening rupee augers well for the pharma companies.
He is upbeat on IT sector too.
more to come
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