Expect Nifty to clock in 18,500 before Diwali: Nilesh Jain, Centrum Broking

Indian benchmarks Sensex and Nifty were seen trading with choppiness in the early session, on the back of a decline in the bank and IT stocks. Nilesh Jain of Centrum Broking spoke to Money9 on how should investors approach the volatile market in a truncated session.

“Markets still are in the bull trend. India has been outperforming global markets. Expect the markets to continue to surge higher with some volatility. 17950 is the immediate support for the Nifty. Expect Nifty to clock in 18,500 ahead of Diwali.  I am also bullish on the banking sector looking at the PSU Bank’s participation”, he said.

As a strategy for investors, he believes one should remain stock-specific in the current markets as earnings will be an important factor to track and will indicate how certain stocks will react.

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