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    HomeNewsBusinessMarketsExpect Nifty to reclaim 8000, banks likely to outperform: JM Fin

    Expect Nifty to reclaim 8000, banks likely to outperform: JM Fin

    Gautam Shah of JM Financial says he remains of the view that unless 7,780 and 7,700 break on a closing basis the trend shall remain up. He continues to expect the index to re-test 8,000, take it out and move onwards to 8,150 levels.

    May 18, 2016 / 12:57 IST

    Gautam Shah of JM Financial says technically, the index has been flirting with the major support zone of 7,780-7,800.

    The manner in which the bulls have protected the important support of 7,780 on a closing basis is quite commendable, he feels.

    He says he remains of the view that unless 7,780 and 7,700 break on a closing basis the trend shall remain up. He continues to expect the index to re-test 8,000, take it out and move onwards to 8,150 levels.

    According to Shah, capital goods, auto and banking sectors are likely to outperform.

    first published: May 18, 2016 09:03 am

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