Expect Nifty to claim 17,000-17,300 levels by Diwali: Harsh Patidar, CapitalVia Global

Indian markets gained momentum after a subdued start on Friday. The S&P BSE Sensex was at 56,075, up 126 points while the Nifty 50 was up 53 points at 16,690. Asian markets too have been muted amid hawkish comments from some Fed officials ahead of the Jackson Hole symposium. Harsh Patidar of CapitalVia Global Research spoke to money9 on what to expect on markets in September series.

“Markets have been on a strong bull run and we have been witnessing sector rotation. Even going forward, the Nifty will continue to clock in further record levels till Diwali. Expect Nifty to clock in further 5-7% move on the Nifty and see 17,300-17,400 king levels. Expect Nifty Bank to now start taking the lead and push Nifty higher”, he said.

On the dips and volatile moves, he believes one should not panic as these mild corrections will continue hitting the street and investors should only stick with good quality, fundamentally strong stocks.

“Like private banking space and expect to see significant move on stocks like ICICI Bank and HDFC Bank”

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