At an index level look to buy on dip and on a stock specific level there are individual setups which are very-very strong, the likes of PSUs, PSU banks, PSEs, power generation companies these are doing excellently well as far as the charts are concerned, so stick to strength and at the same time as far as index goes, historically like speaking of index Bank Nifty can be the surprise package as April has been a positive month historically for the banking index.
Kaustubh Pawaskar, DVP, Fundamental Research at BNP Paribas, predicts that Q2 will be a weak quarter for consumer goods companies, with no significant improvement in demand. However, higher margins may contribute to decent bottom line growth. Pawaskar expects a recovery in volumes from Q3, driven by stable urban consumption and increased government spending in rural markets. The QSR space has been impacted by inflationary pressures, but burgers and sandwiches will perform well from Q3.