Go for active over passive investing in current market: Lovelesh Sharma

Domestic equity market benchmarks Sensex and Nifty were trading with losses in early trade after opening with a gap up. While the Sensex was trading below 61,000,the Nifty was trading well below 18,100 mark. Except banks, all the other sectoral indices slipped into the red with Realty, IT and Auto sectors seeing maximum cut. Broader markets felt the maximum hit and were trading over 1.5% lower. Lovelesh Sharma from Finversify spoke to Money9 on what to expect from markets going forward.

“This is not the market one should do passive trading. Pick select stocks where there is momentum, good techno fundamentals. Nifty bank definitely looks stronger, in case one needs to trade the index”, he said.

While ICICI Bank stock has shot up over 8% post strong earnings, one must wait to let the news be absorbed before taking bets at these levels.

Stock Recommendations

Axis Bank | Buy | Target: 865 | SL: 810

JSW Energy | Buy | Target: 420 | SL 363