William O'Neil & Co believes that this is a goldilocks scenario for the Indian equity market, Dean Kim, head-global research product, told CNBC-TV18. Kim also that there is a lot of opportunity for growth.

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“India is a fantastic market, the economy is really vibrant, for example, the middle-class income rising, financial sector, household debt to GDP being really low. So there are a lot of opportunities for growth. The market is set up very well as long as oil prices remain where it is now and does not hover over USD 100 per bbl, if the US dollar does not peak out, it would be a goldilocks type scenario for India,” Kim said.

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On stocks, he said, “In FMCG, we like Relaxo Footwear, Tube Investments, even auto parts companies like Mahindra Automotive, Endurance Technologies, Blue Star. We are noticing that they are coming out of a base formation and breaking out into the pivot zone.”

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“We continue to like financials, we have HDFC Bank as well as ICICI Bank, Kotak Mahindra Bank, but then we are seeing new names like Cholamandalam, their consumer finance company. So, these types of stocks are now breaking out from a base,” said Kim.

For the entire interview, watch the video

(Edited by : Dipikka Ghosh)