The Sensex and Nifty have regained losses of the last week and ended with gains of over 1.5 percent this week. Bank Nifty and the midcap index were up nearly 4 percent and 3 percent for the week, respectively.

Anu Jain of IIFL Private Wealth Management believes that the market will remain choppy in the range of 11,800 and 12,100 zones.

Jain maintains positive view on Hindustan Zinc, ITC and HPCL.

Moreover, speaking to CNBC-TV18, Ashwini Agarwal co-founder and Partner of Ashmore Investment Management India said that a lot of the data points coming through over the last couple of months, point to an economic recovery.

He added that if the Indian government provides more stimulus, then that would hold up demand beyond the festive season.

According to Agarwal, fundamentals for the IT sector are supportive and valuations are not expensive. He hopes that fundamentals will catch up in the long term.

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