“Bank Nifty is also holding very decisively at about 42000 which is a very good sign for the bulls and we should see targets of 44000 in a short while,” says Shilpa Rout, Derivatives – Lead Analyst, Prabhudas Lilladher.
It looks like the benchmark indices have taken a breather after the furious rally that we had seen towards that record high levels but the broader markets are outperforming versus the benchmarks. Do you see this continuing?
The Nifty is in the range of 18500 to 15800 and nothing much has changed. There has been no change in the trend and we can expect upside momentum after some sort of profit booking and soft trading sessions. Bank Nifty is also holding very decisively at about 42000 which is a very good sign for the bulls and we should see targets of 44000 in a short while.
It looks like the benchmark indices have taken a breather after the furious rally that we had seen towards that record high levels but the broader markets are outperforming versus the benchmarks. Do you see this continuing?
The Nifty is in the range of 18500 to 15800 and nothing much has changed. There has been no change in the trend and we can expect upside momentum after some sort of profit booking and soft trading sessions. Bank Nifty is also holding very decisively at about 42000 which is a very good sign for the bulls and we should see targets of 44000 in a short while.
You are quite bullish when it comes to the financial space so I am guessing that your top picks are coming from that stream itself?
Yes. Actually I have two buys; one MFSL,
which is trading at 720-721 right now, I am looking for targets of 745 to 760, a little positional with a stop loss of 710.
The other one is
. It had given a breakout above 60 zone and is now trading at 61. I believe right now, one should look for targets till 66, with a stop loss of 59 from here.
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