Auto and IT stocks helped Sensex and Nifty50 push higher on Thursday morning. Overall market sentiment was backed by a strong rebound in midcap and smallcap indices. The Sensex was at 54,701.92, up 175.99 points or 0.32%, while Nifty was at 16,336.85, up 54.60 points or 0.34%. Metals, pharma drag. Mudit Goyal of SMC Global spoke to Money9 on what is the best way for investors to approach these volatile markets.

“The volatility in markets will continue for some more time but the Nifty can inch higher and clock in 16,500. Investors of Nifty Bank too can expect the index to push higher. One need not worry about these corrections and stick to quality to reap the benefits as the underlying trend of the markets remains bullish”, he said.

As far as the broader markets are concerned, he believes the safest way for investors to be in this space is to remain invested in fundamentally strong stocks.

He believes metals will continue to perform and one can keep a view of two to three months to take part in the current rally.

Stock Recommendations

Tata Steel | Buy | Target: 1465 | Stop Loss: 1410

Vedanta | Buy | Target: 333 | Stop Loss: 317

See Nifty climbing to 16,500 amid volatility: Mudit Goyal, SMC Global

The volatility in markets will continue for some more time but the Nifty can inch higher and clock in 16,500

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