Nothing to stop the bulls, Nifty to soon hit 17,000: Nilesh Jain

Indian markets started the week on a positive note as Sensex and Nifty surged to new record highs tracking gains in global peers after US Federal Reserve Chairman Jerome Powell struck a dovish tone in Jackson Hole Symposium. The Sensex moved up above the 56,500 mark for the very first time while the Nifty50 surged above 16,800 for the first time. Nilesh Jain of Centrum Broking spoke to Money9 to share insights on where do markets move from here. "The stock markets will not stop here, we will see 17,000 on the Nifty very soon. The derivative data suggests the same. The Nifty Bank although has underperformed and has been stuck in a range but going forward, we expect the index to move towards 37,000. Investors should have a buy on dips strategy" He is positive on the sectors in momentum like Metals and Autos and among stocks he prefers picks from fertilizers and infrastructure.

Stock Recommendations

SPARC | Buy | Target: 305 | Stop Loss: 287 Deepak Nitrite | Buy | Target: 2250 | Stop Loss: 2135 L&T | Buy | Target: 1700 | Stop Loss: 1620