Pharma good for next 2-3 years; wait a quarter before entering IT: Abhishek Basumallick

IT services face the challenge of no growth visibility and until and unless there is a clearer outlook, clients will not tend to start giving new projects. However, there are plays in the ER&D space within IT that could prove worthwhile. Although pharma and IT sectors have been underdogs, there are pockets of the market which show a good long-term investment. In terms of real estate, it is suggested to play the pick and shovels in the real estate space such as tiles, sanitary ware, paints etc. as realty stocks are geography specific.