Home / Business / Money / Correction likely, but Nifty may hold 8460: Phillip Capital

Correction likely, but Nifty may hold 8460: Phillip Capital

Bhatnagar is bullish on banking stocks like Lakshmi Vilas, Federal Bank and City Union in the short term

The Nifty could correct briefly over the next few sessions, but has a strong support level at 8460, says Vineet Bhatnagar, Managing Director, Phillip Capital

In an interview with CNBC-TV18’s Latha Venkatesh and Sonia Shenoy, Bhatnagar says there is a higher probability of the index moving towards 8630 by the end of this year.

He says FIIs are still net long on index futures.

Bhatnagar is bullish on banking stocks like Lakshmi Vilas ,  Federal Bank and  City Union in the short term. In the pharma space, he is bullish on  IPCA and Ajanta Pharma . Other stocks he is positive on include TCS , ITC ,  Asian Paints and Marico .

Transcript to follow

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...