Goldilocks Premium Research is bullish on real estate space, Gautam Shah, founder & chief strategist, told CNBC-TV18. Shah also said that the firm prefers the metals and IT sector.

He said, “If that (metal) index were to get past 6,300, I see another 10 percent upside on the metal index. So that’s one space we like on the long side. IT after a large fall seems to be stabilising at current levels. So, IT could stabilize. It’s probably one place to hide but everything else does not have a good set-up.”

“However, my bullish view on real estate does not change. This is a great opportunity for investors to get in and if you have a 12-36 month horizon then real estate is one of the best bets to buy at these levels,” said Shah.

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He is optimistic that Nifty will bottom out at 15,900-16,000. “Geopolitical concerns, in the last 20-25 years, have given excellent buying opportunity. If you have to stagger your investment over the next 4-6 weeks, hopefully by then everything stabilizes, I think based on risk rewards, anything around 16,000, this market is a good investment buy,” Shah said.

He further said that Nifty Bank has underperformed and could revisit the 34,000 levels.

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