Bank Nifty recovery in sight could march in the coming weeks to 56,000: Rohit Srivastava

Indian shares seem to lay the foundation for a strong finish of the year, according to market strategist Rohit Srivastava, who believes that the recent correction has already absorbed much of the negative news.

“We have seen a lot of bad news in the market in the recent correction that we have seen since June and that brings us in a very good position because we are now making a soil at a much higher level 24,400 compared to where we are in April at 21,700. So when you make a higher soil, what you start in an interview with an interview, it is in an interview, ”

He pointed out that the immediate milestone for the Nifty is the 25,000, which tries to cross the index. “Once we have done that, some people may even look 25,200, because that is a 61% retracement of the correction we have seen since June and above that, we have to be very clear in the coming months at new highlights on the market. So after 25,600, 25,700 should not be a problem.”

Srivastava described the current phase as the early stages of what he calls a ‘final rally’. He advised investors to consider withdrawal withdrawals as buying opportunities in the short term. “Even if there are pullbacks in the short term, we will consider it very good buying opportunities with the idea that we will be in a much better place by December than where we are now.”

On the bank index, Srivastava noticed that Bank Nifty is a left behind compared to the benchmark. “Bank Nifty stays behind. In fact, it is much more than handy in August. But now that it is trying to come back, we want it to close above 54,680 or 54,690, say that the attempt at the end of the coming year.”

IT sector again in Focus

When asked about the renewed momentum in technological shares, Srivastava emphasized the potential of the sector in the short term while warning about long -term headwinds.

“There are two ways to look at it. One is that you have withdrawn 80% of the recent profit to this sale, the profits that we made of April Low to the High that we made somewhere in June and that we have now done that, now we are starting to see a positive momentum since yesterday in the technical shares and part of it that there is no significant action that there is no significant action that there is no significant action that there is a significant action that there is no significant action that there is a significant action that there is no significant action that there is a significant action that there is a significant action that there is no significant action that there is a significant action that there is a significant action.

However, he also pointed out to the structural challenges with which it was confronted. “Dat gezegd hebbende, is de IT-sector geconfronteerd met vele andere tegenwind of het van AI-technologie komt, of we de prijs kunnen bijhouden en altijd de overhang dat de VS iets kunnen doen aan de arbeidskant die van invloed kan zijn op dit bedrijf. Dus, dus, omdat een langetermijnbelegger ik in de loop van de IT-sector kan zijn, maar het kan een handel zijn, maar het is een handel dat er is om hier te zijn. Een handel, maar op langere There are other places where we would like to be invested. “

With wider markets that show resilience and sectors such as the comeback, investors are increasingly optimistic about Indian shares that have started in the last months of the year.