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Post-Budget slide seen; midcaps to take beating: Dimensions

It is already clear that the improvement will take longer than what was initially expected, to play out and that could be the trigger for the post-Budget sell off, feels Shrivastava

A pre-Budget rally is likely, but that is more because the market has already seen a good correction, says Ajay Srivastava of Dimensions Consulting.

In an interview to CNBC-TV18, Srivastava says he expects a sell off in post the Budget.

According to him, barring a handful of banking stocks and the top 20 companies, FIIs have been generally cautious on India. However, domestic investors have aggressively bought turnaround stories in the hope of an improvement in earnings.

It is already clear that the improvement will take longer than what was initially expected, to play out and that could be the trigger for the post-Budget sell off, feels Srivastava.

He expects smallcaps, midcaps and infra stocks to take a beating after the Budget.

He is bullish on largecaps in the banking and pharma sectors.

Srivastava sees the BJP recalibrating its reforms agenda following the crushing defeat in the Delhi assembly polls. He does not see the amendment to the Land Acquisition Act happening in the current Budget session.

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