Better to go long in Nifty than Bank Nifty; normal monsoon to be fresh trigger: Pros

Equity benchmark indices ended the Wednesday session on a stellar note, closing at fresh all-time highs. The Sensex closed up 314.92 points at 30248.17, while the Nifty ended higher by 90.45 points at 9407.30.

S P Tulsian of sptulsian.com is of the view, the fresh trigger for our market to move up for the next three months is the normal monsoon prediction. Currently, there are no hiccups seen for the market as such even on the geopolitical front.

According to him, the Nifty likely has only one way to go and that is up – maybe even to levels of 9800-9900 this calendar year.

Ashwani Gujral of ashwanigujral.com says the structural move towards financial assets is the bedrock of this rally. People are moving towards equities because there is no other asset class giving as good returns as equities.

He says, the current rally to above 9400 has been led by HUL, HDFC and Reliance, so it is better to go long in the Nifty than Bank Nifty. There could be few more up-trending sessions before this rally is done with. Above 9500, one could see further short covering.

In the same interview, market experts Mitessh Thakkar mitesshthakkar.com, Neeraj Deewan Quantum Securities and Abhimanyu Sofat IIFL shared their views on stock specific action.