3 stocks Rajesh Palviya is bullish on for next week
«The kind of confidence, the kind of flow which we are seeing on the Street, that clearly shows yes, towards the end of this Feb series we are likely to see furthermore traction on the buying side and possibly Nifty can scale up to the level of 22,400 to 24,500 also in the continuation of this uptrend,» says Rajesh Palviya, Axis Securities.
First, I would like to talk about the levels and wanted to understand because, of course, the weekly closing looks very strong. We have closed about 22,000 levels and support has also risen now, rising to levels like 22,100, 22,200. From this support now, what do you make of the markets now? Since we understand that the FIIs exposure is still below 50%, what do we make out? Looks more short covering coming week?
Very strong momentum throughout the week. Though the index was volatile, if we analyse the broader market, it was on the buying side only. Most of the stocks on the largecap space as well as on the midcap space have shown very strong rallies throughout the week.
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The kind of confidence, the kind of flow which we are seeing on the Street, that clearly shows yes, towards the end of this Feb series we are likely to see furthermore traction on the buying side and possibly Nifty can scale up to the level of 22,400 to 24,500 also
