Market in consolidation mood, buy banks, avoid IT stocks: Sanjiv Bhasin

Independent investment advisor Sanjiv Bhasin told NDTV Profit that the markets are likely to consolidate at 5200-5400 levels. "Breakout is seen on upside from next week up to 5600 levels," he said. Bhasin expects the fourth quarter earnings to come better-than-expected. "Expect domestic macros to improve and benefit markets," he added. He suggests buying Axis Bank, Indusind Bank and Canara Bank stocks, while he advises selling Infosys and TCS stocks.