Top up in IT, capital goods, auto and PSUs; rest is an avoid: Gautam Shah

“In the second half of last year, we saw a phenomenal rally on the Bank Nifty. We had levels of 44,000-44,500. It was great. Everyone participated and things just changed completely in the last one, one and a half months. There is a lot more room to fall. Our initial target was around 39,600, which was tested.”