Today's target on Nifty is 16,720 and once that gets taken out then 16,750 can be seen today
Asian stocks traded mixed on Thursday, as US markets again surged to record highs. Meanwhile, South Korea's central bank hiked interest rates.
Among the recent listings, one can look at Devyani and Nuvoco while on the other hand, will prefer to buy Zomato when it nears Rs 100, he said
Markets may remain sideways for some time, but many stocks have already corrected by 20%
The key equity indices ended near the day's high with robust gains on Tuesday, tracking positive cues in other Asian stocks.
Select FMCG companies look positive, while pharma stocks need to be taken on an individual basis.
Tech stocks may begin to feel selling pressure now, he says
The S&P BSE Sensex, advanced 226.47 points or 0.41% to 55,555.79 on Monday. The Nifty 50 index gained 45.95 points or 0.28% to 16,496.45.
Consolidation in markets was due after the long one way up-move; many stocks have gone up despite no fundamentals
On the sectoral front, IT and Pharma need should be on investors' radar which are seeing positive rotation