IT remains in a bull market; Infosys, HCL Tech, Wipro good for an upmove: Goldilocks Premium

Gautam Shah, founder and chief strategist at Goldilocks Premium Research, on Tuesday said IT remains in a structural bull market and stocks like Infosys, HCL Technologies and Wipro are looking good for an upmove.

Speaking in an interview to CNBC-TV18, he said, "IT remains in a structural bull market and top stocks like Infosy, Wipro and HCL Tech are lucrative for a risk reward based trade."

"Every single sector which was languishing in the last six months is making a comeback. Banks have done that and we continue to like the banks. I think, for the next few months, the Bank Nifty will eventually go past levels of 37,500-38,000, but near term it has got into a range with support in the area of 35,000-35,500,” said Shah.

On the market front, he said, "We expect Nifty to consolidate but expect broader market to outperform. I do not see too much upside or downside for the Nifty. So the Nifty broadly stays in a range but the midcap and smallcap opportunity is immense."

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