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If lockdown continues, investors may find consumer staples as a safe haven, says Marcellus Investment Managers

Updated : May 07, 2021 21:18:20 IST

Indian markets closed higher for the third consecutive week. Both Sensex and Nifty ended the week with 1 percent gains. Metal stocks continued their rally with Nifty metal index gaining 10 percent for the week.

Pramod Gubbi, co-founder of Marcellus Investment Managers, believes that if the current lockdown continues for a prolonged period, investors might find consumer staples as a safe haven.

"Consumer staples and pharma from a demand standpoint will provide some sort of protection for investors. A lot of investors if they sense that the current lockdown is going to be more prolonged and also broad based across the country then they might find consumer staples as a safe haven."

Anu Jain, Senior Partner at IIFL Wealth Management, expects markets to trade sideways in the coming weeks.

She remains positive on Kaveri Seeds, Gujarat Ambuja Exports, NALCO, MMTC and BHEL.

"It looks fairly likely that the markets will go sideways for some time. There is no breakout which is appearing right now, however if we were to cross 15,000 - there are lot of puts positioned there and there could be a squeeze which could take the markets to 15,150. However the first level that we are watching is about 14,980."

"Kaveri Seeds in the short term can move closer to Rs 690. It closed up towards the end today, so there was a lot of accumulation. The stock has support closer to Rs 595-600. So any dip or even at current market price, this could be a blow out stock for next week."

Jain is also positive on Gujarat Ambuja Exports, NALCO, MMTC and BHEL.

Watch video for more.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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