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Daily Voice | Nifty may not scale new highs in November series, says Mohit Nigam of Hem Securities

The Morgan Stanley downgrade or Federal Reserve policy decision is unlikely to impact the market over the next three-six months.

October 30, 2021 / 03:23 PM IST

Mohit Nigam, Head - PMS at Hem Securities, believes that the November series will be rangebound as monthly option chain indicates strong support near 17,500.

“Recovery across the market could be seen from the support level, however, hitting new high seem tough for the market during the November series,” he says. “Overall, the markets are in up move for a longer term and due to this recent sell-off, there will be no impact on the primary market as the overall liquidity in the market has improved compared to the past and hence investors are expected to infuse more funds in the upcoming IPOs,” he says in an interview with Moneycontrol.

Excerpts from the interview:

Do you see any possibility of the Nifty breaching 17,000 in November series? Or, there will more corrections in the broader market than benchmarks?