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.

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.