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Nifty 50 closed above the 20 DMA on Friday and is likely to cross the 16,400 level. Also, know why Santo and CJ are tracking M&M, JSW Steel, Tata Power, TNS Clothing, and Nykaa.
Aditya Birla Fashion and Retail posted a decent March 2022 quarter performance. The company will scale up its core brand business and is targeting multi-fold growth in new businesses of innerwear and ethnic. Watch the video to know why Moneycontrol Pro has a positive stance on the stock.
Speaking to CNBC-TV18, Laurence Balanco, Global Technical Analyst at brokerage firm CLSA, said a short-term pullback will be followed by further gains for the index.
Nifty may see some fleeting short-term resistance, but there are no major hurdles going forward and it may touch 8700 levels soon, says Jai Bala of Cashthechaos.com.
Sanju Verma, CEO of Violet Arc Global Managers says it is not the defensives that are truly driving the market. Stocks like Ashok Leyland and Maruti, among others, have seen the most run-up in their stock prices, she adds.
Sushil Kedia, Director- Quantitative Strategy at CIMB feels that the Nifty is showing bearish trends. He maintains the mid-term target for the Nifty at 4,500.
In CNBC-TV18‘s personal finance segment, Hemant Rustagi, Wiseinvest Advisors advices investors to be cautious while investing in a sector fund. He recommends investment in thematic funds as they are broad, more diversified as compared to a sector fund.