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Market likely to hit 12,100 in the near term: Goldilocks Premium Research's Gautam Shah

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Goldilocks Premium Research on Friday said that the market is likely to hit 12,100 in the near term.

Goldilocks Premium Research on Friday said that the market is likely to hit 12,100 in the near term.
In an interview to CNBC-TV18, Gautam Shah, founder and chief strategist, said, "Top-quality stocks might get sideways and they might start to underperform the market over the next many weeks. If that were to happen, many of the underperforming pockets which are like metals, pharmaceuticals, even to certain extent capital goods, I think these are names that will make a very strong comeback."
He said, "My top three bets right now would be the banks, followed by oil and gas, capital goods and then the autos. So, these are the four bets which I think will outperform the markets going forward."
Pramod Gubbi, the co-founder of Marcellus Investment Managers, said, "The market as a whole is not reflecting the current fundamentals. I think the market is clearly forward-looking. They have taken the slew of reforms that we have seen over the last few weeks and extrapolated that. Over the next few weeks also you can anticipate some reforms on that."
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