Benchmark indices were trading near day’s high with the Nifty around 15,900 led by gains in auto, realty stocks. All the sectoral indices were trading in the green with auto, oil & gas, realty and PSU bank indices up 1-4%. The midcap and smallcap indices too added a percent each. Likhita Chepa of CapitalVia Global Research spoke to Money9 on whether markets will achieve the all time high level of 16,000 this time.
“Markets are likely to continue trading rangebound as there is no fresh trigger which can take it above the crucial resistance zones. The earnings have been mixed so far and their is no big positive surprise. I still believe investors should continue with the buy on dips strategy”, she said.
On the specific sectors gaining traction such as the realty space, she believes that earnings have been one trigger but apart from that it is all about interest rates being low which is driving the sentiments. There is enough liquidity in the system driving demand for housing and investments both.
BASF India | Buy | Target: 3560 | Duration: 12 months
JK Cement | Buy | Target: 4100 | Duration: 15 months
CAMS | Buy | Target: 4025 | Duration: 12 months
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