Broader markets are gradually losing relative strength: Milan Vaishnav

Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading 0.5% up on Tuesday in early trade, on the back of positive global cues. BSE Sensex was hovering around 52,590, while the broader Nifty 50 index was ruling near 15,800.

Milan Vaishnav of Gemstone Equity Research spoke to Money9 and said, “Markets have been consolidating with 15,900 as the resistance. Investors should continue to stick with select stocks in economy facing sectors.”

On the sector rotation being witnessed in markets, he said that one is seeing action in the realty space, other than this space one can look to book profits as for the short term traders.

“Technically both on daily and weekly charts one can see positive moves on Nifty Realty. Structural breakout can be seen here. On the other hand profit-booking commodity space like metals cannot be ruled out.

On the broader market space, he said the one is beginning to see that mid and small cap indices are losing relative strength.

“One can stick to specific stocks in the large-cap space, take money off the table from mid, small caps”, he said.

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