Gautam Chhaochharia, ED & Head of India Midcap Research at UBS Securities told NDTV Profit that the markets are 10 per cent up on hopes of reforms and improving politics. "We need to see if hopes become reality. Risk-reward is unfavourable now; be defensive" he said. He recommends buying midcap stocks like Zydus Wellness, TTK Prestige and selling Bank of India, HCL, Jubilant and Tata Motors.
