Nifty may touch 20,000 by Diwali but this market is for high risk investors: Mazhar Mohammad

Domestic stock market benchmark indices Sensex and Nifty were trading at fresh record highs on Wednesday morning, a day before weekly F&O expiry. While the Sensex was trading above 60,600 levels, the Nifty hit a high of 18,098. Nifty Bank and the broader markets both mid and smallcap indices too were trading at all time highs. Mazhar Mohammad of Chartview India spoke to Money9 on what should investors do with their investments. "The market momentum continues to surprise us continuously and perhaps the Nifty could touch even 20,000 at this pace by Diwali but this is a market for high risk investors. I would say, rupee weakness is an impending risk and if the rupee slips further to all time low levels that could hurt the market sentiments. For now investors must be very stock selective", he said.

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Petronet LNG | Buy | Target: 247 | Stop Loss: 229 Gateway Distriparks | Buy | Target: 279 | Stop Loss: 248