Don’t indulge in bottom fishing in tech stocks: Goldilocks’ Gautam Shah

Do not indulge in bottom fishing in technology stocks, said Gautam Shah, founder and chief strategist at Goldilocks Premium Research, on Tuesday, adding that banks, real estate, capital goods, metals and autos are expected to do well.

In an interview to CNBC-TV18, Shah said, “I don’t want to be aggressively bearish or bullish in the current environment. I want to stick to pockets that exhibit outperformance, so banks, real estate, capital goods, metals and autos – these are the 5 pockets that I like and they could do well irrespective of the Nifty behaviour.”

“I do not think one should be indulging in bottom fishing in IT. There is room for more weakness. If the market weakens further then IT could be the punching bag,” he said.