See 5-6% more upside in TVS Motor: Milan Vaishnav

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Nifty has managed to breach 15,800 levels once again. The index has gained 0.20% in the opening hour of trade, now sitting at 15,810. Tech Mahindra surged a massive 8% on Friday morning to trade as the top Sensex gainer, helped by its quarterly results. HCL Technologies, Power Grid Corporation, and HDFC followed. In the red were Bajaj Finserv, falling 1.5%, it was joined by IndusInd Bank, Bharti Airtel, Tata Steel, and Asian Paints. Milan Vaishnav of Gemstone Equity Research spoke to Money9 to share insights of the way markets will move in August series.

“Markets have started on a resilient note however, markets have been sideways for the last eight weeks. Expect the markets to still remain rangebound in the short term. Nifty Bank also will continue to remain muted. It is better for investor to stay stock specific”, he said.

On the rally in metal stocks, he believes investor should take profits. Broader markets will continue to outperform in markets.

On the earnings front, he believes Tech Mahindra has shown a breakout and traders can ride the wave by trailing stop losses. On TVS Motors, he believes still there is 5-6% upside left.

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