Nifty bank will outperform Nifty, expect to see 37,500-37,700 soon: Mehul Kothari, Anand Rathi

The S&P BSE Sensex index jumped as much as 261.66 points or 0.48 percent in morning deals to touch 54,664.51, coming within 52.73 points of an all-time high that it registered last week. The broader NSE Nifty50 benchmark rose 67.1 points or 0.41 percent to 16,325.35 at the strongest level recorded in the first hour of trade. Mehul Kothari of Anand Rathi spoke to Money9 about the best way to approach the markets at record highs.

“We are optimistic about the markets going strong ahead. However one should take a pick on Nifty Bank now as it could outperform the Nifty. The Nifty bank looks set to now move towards lifetime highs. Positional stop loss will be 35,500 and the target will be 37,500-37,700 can be seen”, he said.

Ahead of earnings, he believes one can look at adding Coal India and Lupin as they look set to gain another 10-15% upside form the current levels.

Stock Recommendations

EIL | Buy | Target: 78.5 | Stop Loss: 73

Axis bank | Buy | Target: 800 | Stop loss: 720