One must be cautious now amid the euphoria in markets: Milan Vaishnav

Indian indices opened at new highs on Friday as financial stocks, along with RIL, ITC, and Tata Steel all fired up. The S&P BSE Sensex index hit a new high of 59,551 in early deals, up 400 points, while the Nifty50 claimed 17,747, up 118 points. Milan Vaishnav of Gemstone Equity Research spoke to Money9 on the strategy investors should follow at record highs. "The markets are witnessing euphoria and no doubt the markets still have the strength and may inch higher clocking more records but may take a breather soon. It is the time when investors need to keep sanity and take a realistic view. Investors can now shift focus from Nifty to Nifty Bank which will now try to dominate the landscape and other sectors which have not yet performed", he said. He believes the structure of the market will become more sector and stock-specific. Stock Recommendations M&M Financial Services | Buy | Target: 186 | Stop Loss: 167 SBI | Buy | Target: 480 | Stop Loss: 456 DLF | Buy | Target: 360 | Stop Loss: 335