Expect Nifty to surge to 18,000 soon: Shivangi Sarda, MOFSL

Domestic markets surged higher in early trade after the US Federal Reserve hinted that it may begin slowing down bond purchases in November and complete the process by mid-2022. While the Nifty was seen trading above 17,700, the Sensex jumped over 600 points to trade above 59,500 levels. All the sectoral indices were trading in the green led by gains in realty, metals, auto and banks. BSE midcap and smallcap indices were seen outperforming major indices.

“The underlying bull trend of the markets looks promising and the Nifty my soon now climb to 18,000 and the levels justify being in the markets as despite the volatile move in global markets, Indian markets have retained strength”, she said.

On the Nifty Bank upmove she said that finally there is a positive surge, and we are bullish on the banking sector  especially Kotak Mahindra Bank in private space and SBI in the PSU banking space. On the real estate space she said that Nifty Realty gave a break out and some of the stocks which look positive are Godrej Properties, DLF and Sobha.

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