HDFC Securities says Nifty can see next upside levels of 15450-15500 in the near term
HDFC Securities says that Indian equity benchmark indices rose for a second day on May 18, tracking most Asian peers and closed at a two month high. Nifty opened with an upgap and made a 94 point high-low range for the day. At close, the Nifty 50 Index added 1.2% or 185 points to close at 15108. Volumes on the NSE were above recent average. Among sectors, Capital Goods, Consumer Durables, Power and Auto rose the most while Telecom and FMCG fell. Midcap index outperformed the Nifty
Bulls need to be cautious at the swing highs. Nifty not showing any profit booking in the next couple of sessions could open the next upside levels of 15450-15500 in the near term: Reuters