18,000 will be the crucial support for Nifty: Likhita Chepa

Domestic equity market benchmarks Sensex and Nifty were trading flat at over half time amid high volatility. While the Nifty Bank was seen underperforming the benchmarks. Likhita Chepa of CapitalVia Global Research spoke to Money9 on what to expect from markets going forward.

“Definitely the markets are highly volatile if we see India VIX is continuously rising and if we observe the last couple of sessions, although we are getting good gap openings, most of the day is spent on recovering the gap itself, a bad thing yesterday were in bank Nifty has set new highs. On the back of ICICI bank and other days, even though we are getting a positive opening or flat opening, we are ending the day or no more or less flat or negative mode. So I think 18,000 is going to be a key support level in the coming days, which will decide Nifty's movement going forward", she said.

Stock Recommendations

Lemon Tree Hotels | Buy | Target: 65 | Duration: 8 months ICICI Bank | Buy | Target: 930 | Duration: 12 months HDFC Life Insurance | Buy | Target: 780 | Duration: 15 months

Domestic equity market benchmarks Sensex and Nifty were trading flat at over half time amid high volatility. While the Nifty Bank was seen underperforming the benchmarks. Likhita Chepa of CapitalVia Global Research spoke to Money9 on what to expect from markets going forward.

“Definitely the markets are highly volatile if we see India VIX is continuously rising and if we observe the last couple of sessions, although we are getting good gap openings, most of the day is spent on recovering the gap itself, a bad thing yesterday were in bank Nifty has set new highs. On the back of ICICI bank and other days, even though we are getting a positive opening or flat opening, we are ending the day or no more or less flat or negative mode. So I think 18,000 is going to be a key support level in the coming days, which will decide Nifty’s movement going forward”, she said.

Stock Recommendations

Lemon Tree Hotels | Buy | Target: 65 | Duration: 8 months

ICICI Bank | Buy | Target: 930 | Duration: 12 months

HDFC Life Insurance | Buy | Target: 780 | Duration: 15 months