Nifty headed for 19,450; be mindful of volatility: Aamar Deo Singh, Angel One

economictimes.indiatimes.com:

"Nifty is displaying strength on the charts with the bias in favour of the bulls. It is all set to rally towards its immediate target of 19,450. However, investors should be prepared to deal with greater volatility in the coming weeks, as generally, when markets trade at record highs, investor emotions tend to stay elevated.

Hence, being rational in such times is always a good thing to do," Aamar Deo Singh, Head Advisory, Angel One says.Nifty has hit 19,000. Where is it headed next? Nifty has been hitting record highs on the back of positive news flows, strong investment inflows and upbeat investor confidence. Further, a broad-based rally across various sectors also lends overall strength to the current leg of the upmove.

HDFC twins, Reliance & IT bellwether stocks such as TCS and Infosys were among the key index stocks that led from the front, the past week. Nifty breaching its December 2022 highs and sustaining above that level is very crucial for the next leg of the rally. Sustaining above the 19,200 mark, Nifty is all set to rally towards its immediate target of 19,450.What are the technical triggers for Nifty, Bank Nifty? Both Nifty & Bank Nifty, have been displaying strength technically on the charts, with the bias in favour of the bulls.

Sometimes, there were tussles between the bulls and the bears, but the bulls managed to hold their firm grip. Technical indicators such as crucial moving averages clearly indicate an uptrend. Breaking of the psychologically important resistance levels has also added fuel to the fire.