Don't see much upside in mid, smallcaps from here: Vinay Khattar, Edelweiss

Khattar remains bullish on IT, pharma, and select segments of consumption and bearish on the entire banking and NBFC space

After a sharp rally from March 2020 low, the market appears ripe for short-term correction, says VINAY KHATTAR, head of research, Edelweiss Professional Investor Research in interaction with Swati Verma. Edited excerpts:

The market has made a remarkable rebound since March-lows. Are the current levels sustainable?

The worst is probably behind us but it's difficult to say whether current market valuations will sustain. The Covid-19 pandemic has emerged as one of the biggest health crises for humankind, massively impacting the global economy as countries were compelled to shut down business activities. At this juncture, the markets are a bit ahead