Nifty can attempt to move higher to 16,000-16,100: Mudit Goyal, SMC Global

Domestic benchmark indices began the day’s trade in the positive territory and both Sensex and Nifty jumped 0.74% in early deals. NSE Nifty 50 breached 15,750 continued marching higher. Broader markets were outperforming benchmark indices. Mudit Goyal spoke to Money9 on the trajectory of markets from here on and shared insights on the buzzing sectors.

“After two days of weakness, expect markets to again move higher. Expect Nifty to reclaim 15,900. Once that level is taken out markets can move towards 16,000 -16,100.”

On Nifty, he recommends to go long, however the Nifty Bank may still be under pressure and therefore advises an avoid here. In financials, he believes one can buy Bajaj Finance which has not participated that much.

Among sectors, he said, “Realty space looks positive and two stocks can be kept on the radar – DLF and Godrej Properties where investors can still see upside”

Stock Recommendations

TCS | Buy | Target: 3240 – 3600 | Stop Loss: 3185

L&T Tech | Buy | Target: 3530 | Stop Loss: 3420