Nifty is the strongest and the most stable of all global charts and is a good investment opportunity from the long-term perspective, said Daryl Guppy, CEO, guppytraders.com.
Daryl Guppy, guppytraders.com says he expects some retracement and consolidation around 5,700. "In terms of the Nifty, we have an upside target of around 6,400. For the Sensex, the upside target is around 21,000. In the next three-six months period, we can see those targets being achieved," he adds.
For the Nifty, Daryl Guppy, guppytraders.com says, strong support level is at 5,200. "We have moved above 5,200. We are looking now for a breakout move towards 5,700, but we are anticipating a pullback and a retest of 5,200 as a support level. So, 5,700 is our upside target, but we are looking for a retreat and a rebound behaviour," he asserts.
Daryl Guppy of guppytraders.com sees the Nifty falling to 5000 levels, or even going lower to test 4800, a month from now.
In an interview with CNBC-TV18, Daryl Guppy of guppytraders.com said he expects Nifty and Sensex hitting further downside targets. "The Sensex the downside target is 17500 with the Nifty the downside target is 5200," he stated.
HDFC Bank has support at Rs 2000, says Daryl Guppy, guppytraders.com.
Daryl Guppy, Founder and Director of Guppytraders.com, in an exclusive interview to CNBC-TV18 has a bullish view on the Nifty. “As long as we stay at the moment above 5,900, the net allows that up sloping triangle pattern to develop which gives us an initial target around 6,800."