Porinju Veliyath, MD and portfolio manager, Equity Intelligence India, on Monday said the year 2019 will be a wonderful year for stock picking and he is upbeat on midcap IT stocks.
It will be a bottom-up approach and the focus should be on selective stock picking, he said.
"Beyond Nifty there are many stories emerging. I am hopeful that smallcaps and midcaps will recover in 2019," Veliyath said.
Midcap IT looks attractive because there are some structural changes and better growth happening there, he said, adding that largecap companies such as Infosys will also perform better but money can be made in midcap IT companies.
There is no doubt election and politics will take centre stage but there is no need of being bearish on the Indian market because organic growth for the country will continue, Veliyath added.
"Moreover, we are done with the most important reforms in the country and they are irreversible," he said.
Veliyth said he was not an expert on the healthcare and hospital space but expected it to do well going forward but one should have a selective approach.