Nifty all set to move to 18,500 now: Arpit Beriwal, MOFSL

"Apart from this the strong FII inflow and the positive macro data have been supporting the sentiments"


Domestic equity benchmarks Sensex and Nifty opened at fresh record highs on Thursday and built on to further gains in the early session. While the Sensex topped 61,000, and the Nifty crossed 18,250 for the first time ever were among top Sensex gainers. Arpit Beriwal of MOFSL spoke to Money9 on what to expect from markets going forward.

“Markets have been on a roll on the back of strong move in the IT sector. Apart from this the strong FII inflow and the positive macro data have been supporting the sentiments. The nifty is expected to go for 18,500 now”, he said.

On the back of earnings in the IT space, he believes one can look for opportunities in the midcap IT names like Persistent Systems , Larsen & Toubro Infotech  and L&T Technology Services and Coforge for upside from current levels.

Stock Recommendations

Persistent Systems | Buy | SL: 3850 | TGT: 4300

Godrej Consumer Products | Buy | SL: 1000 | TGT: 1140

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