Nifty now looks on course to achieve 17,000-17,200 over the long term: Likhita Chepa

Indian benchmark equity indices climbed over 0.85% on Friday. The Sensex was at 55,340.03, up 496.05 points or 0.90%, while the Nifty was 16,503.40, up 139.00 points or 0.85%. Likhita Chepa of CapitalVia Global Research spoke to Money9 about the outlook.

“Investors had been waiting for these levels for long, but now is the time that they should look for some profit booking. For the long term, I see a target of 17,200 on the Nifty”, she said

For the broader markets valuations had run up high and she believes this was what led to a selloff, so as a strategy investors should switch to top quality Nifty50 stocks.

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