These large-caps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 27%

As the correction continues unabated, a divergence is emerging in what is happening to the Nifty and Sensex and what is happening in the entire large-cap space. There are pockets where a certain amount of relative outperformance is visible. While Reliance Industries might be under pressure, stocks like HDFC Bank – which too has high FPI holding – is able to keep its head above the water even on strongly bearish days. So, probably the broad-brush selling is over. Still, despite the recent correction, valuations are on the higher side.