F&O Talk| Market undertone positive, expect action in select banking, BFSI stocks: Sahaj Agarwal of Kotak Securities
Nifty and Sensex are consistently moving upwards and the bull run is expected to continue as the Lok Sabha election results were well absorbed by the market participants.
Considering the past week, Nifty seems to have taken a support near the 23,400 mark while Sensex seems to be resisting the 77,850 level for the last 3 trading sessions as the BSE benchmark Sensex declined 269 points or 0.35% to settle at 77,209 on Friday while Nifty dropped 66 points or 0.28% to end at 23,501.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitIIM LucknowChief Operations Officer ProgrammeVisitIndian School of BusinessISB Chief Technology OfficerVisitDespite both the indices ending in red on a weekly basis, analysts believe that the overall picture seems positive.
Analyst Sahaj Agarwal, Senior Vice President, Head of Derivatives Research, Kotak Securities interacted with ET Markets regarding the outlook on Nifty and Bank Nifty for the upcoming week. Following are the edited excerpts from his chat:
How do you think the Nifty and Bank Nifty performed in this short week of 4 trading days?
Before getting into the micro picture, I strongly believe in having clarity on the medium term setup for which we consider many factors like price behavior, global liquidity and of course technical. Post the election period – we have overcome two important hurdles. Growth has outdone the liquidity situation and the election outcome was well accepted by the
