Nifty can touch 7,800 by Diwali: Sunil Jain

Sunil Jain, head of retail research, Nirmal Bang

Large caps have seen a good run-up and hence the upside is very limited from here on. The markets are likely to hover around the current levels for some time. For a person holding from a long term perspective, one should stay invested as we see the markets moving to 7,800 by Diwali this year. The outperformance case still exists in select stock but these outperformers going to be names from the broader markets. Hence, we are suggesting a tactical move to the second line stocks as valuations are still attractive and there is money to be made.