ITC poised to move towards 300-320 levels: Lovelesh Sharma

Indian markets opened strong on Monday and hit fresh record highs. While the Sensex hit a record high of 61,863 in early trade, the Nifty touched the 18,500 mark and this was despite Asian markets struggling on the back of inflation concerns returned to the fore, with China’s economic growth slowing. Lovelesh Sharma of Finversify spoke to Money9 on strategies investors must adopt going forward.

“Markets are in fine form, the Nifty is poised to move higher towards 18,800. The Nifty Banks seems to be finally moving out of the tight range”, he said.

As for buzzing stocks on the back of news flows and earnings, he said that HDFC Bank seems to be in an attractive zone and can be looked at for investments. On the other hand, he believes, ITC is finally showing positive momentum.

“ITC may now move higher to clock in Rs 320 kind of levels”, he added.

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