Market has moved up from its 6-month low and touched a high of 11141 odd levels. We expect the market to remain sideways with some amount of volatility. The merger of PSU banks will lead to growth from a long term perspective. GDP is at 6-year low of 5 percent, so that is a bit of concern. Slowdown concerns are there in Indian and global markets and expect some stimulus to come in India. The upside looks capped. Focus on fundamentally strong stocks. <br /> <br />Nestle posted strong Q1 results - both revenue and profit have been up by 11 percent. They have a good execution strategy of twin products - Munch and Kit Kat, owning about 63 percent of market share. Management is quite resilient in terms of valuations. It is running at 66P/E against market P/E of 58x. It is reasonably valued and consistent growth is expected, said Dinesh Rohira, Founder & CEO, 5nance.com.
