Indian benchmark equities opened at record highs on Tuesday following Asian stocks. While Sensex hit a record 62,163 points, Nifty rose above 18,604 for the first time. However, profits were being booked at higher levels. Nilesh Jain of Centrum Broking spoke to Money9 on what to expect from markets going forward.
“Market momentum is still strong. Nifty is headed towards 19,000 which will be an important resistance. On Nifty Bank I expect 41,000 to be hit soon. The next leg of the rally will be with the support of banking stocks especially PSU Banks now”, he said.
He also said that select stocks in the cement pack are expected to perform well.
Buy | Sonata Software | SL 915 | TGT 1000
Buy | L&T | SL 1801 | TGT 1910
Buy | Engineers India | SL 77.5 | TGT 87
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