Sushil Kedia, founder of Kedianomics, believes that the upmove from 7,500 in the Nifty does not have the signatures of a long-term bull market.
He said the move seems like a massive rebound which can go into a new all-time high as well.
He added that "We are in a very toppish and cautious zone."
On stocks, he advised investors to go long on Bombay Dyeing, Indiabulls Real Estate and ITD Cementation.
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