ET Now:What is your view on the index as also stocks?
Ashwani Gujral: There is a clear bias towards large caps. The market breadth is 858 to 597 advance to decline. Midcap is not participating with the same fervour that it was earlier. It is clear certain pockets are doing well. Autos, M&M, Maruti are doing well. The PSU banks which are doing well. Pharma is not doing as well. IT is kind of lacklustre. With this crude price fall, PSU energy, autos, PSU rate sensitives sort of theme could play out for the next 10-15 days. That is around which you create your portfolio. It is a euphoric phase now. This could continue another 200 points on the Nifty. 8450 is now the trailing stop and another couple of 100 points could happen if you get few more days like this.Then you get fairly close to the highs of the market.
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