Domestic equity benchmark indices scaled fresh highs on Wednesday. S&P BSE Sensex reached a fresh all-time high of 54,258 points, jumping 0.81%, while the NSE Nifty 50 breached 16,250 for the first time ever, gaining 0.72%. Likhita Chepa of Capital Via Global Research spoke to Money9 on where are the markets poised to move from here.
“It was long overdue for the Nifty to cross 16,000. I believe it will first need to now cross the 16,450 has the crucial resistance and then move to 16,600.”
On the Nifty Bank riding at the forefront with SBI hitting a record high and crossing Rs 4 lakh crore market cap she said that it is due to the robust earnings expectations and it is the fourth bank to cross this mark. She also expects SBI to post improvement in earnings. She feels the asset quality for the bank is likely to improve going forward.
Aarti Industries | Buy | Target: 1100 | Duration: 12 months
Tata Power | Buy | Target: 148 | Duration: 12 months
Tatva Chintan | Buy | Target: 2450 | Duration: 10 months
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