IT, Banking and Auto to continue to outperform in near-term

Bull market or bear market?

Markets are in grip of bulls. Markets ended in a positive note on Tuesday, back of positive global cues. We believe that market will continue in positive momentum.

Stocks likely to be in limelight?

We continue to like RBL Bank, M&M and Bharat Forge

Sectors likely to impact the market?

We saw all round participation in Tuesday's session, obviously, large caps are in favour of the season. With investor focus on corporate earnings, we believe IT, Banking and Auto continue to outperform in near term.

Your midterm view?

Nifty after a strong breakout above 10900 levels, it has registered to deceive breakout thereby shrugging of last eight weeks of consolidation, Nifty has given fresh breakout heading for new lifetime high. Our mid-term target for Nifty is 11250

What drove markets on Tuesday?

Nifty ended at five-month higher led by index heavyweights at 10947. Strong global cues led Nifty, Midcap index gain led by an all-around performance by large-cap. We believe across all sectors', IT Banking Auto and Metals will continue to outperform. We also saw short covering in a lot of stocks leading to fresh on the other hand India VIX has been falling down from last five sessions and lower volatility indicating the markets in grip of bulls.

Rahul Shah, VP-Equity Advisory Group, Motilal Oswal Securities