Chartist Talk: Can Nifty’s rally continue? Sudeep Shah advises partial profit booking, picks 3 Muhurat stocks
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- ✓Sudeep Shah of SBI Securities said the Nifty 50 could extend its winning streak during the Muhurat trading session.
- ✓However, he advised investors to book partial profits as the index nears overbought levels.
- ✓Shah picked Axis Bank, Bajaj Finance, and TVS Motor Company as his top stocks for the session.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Moneycontrol.com
- Reading Speed
- 6 Minute(s)
- Market Focus
- India Economy
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Given favourable seasonality and the strong bullish momentum prevailing in the market, the benchmark Nifty 50 has a good chance of extending its winning streak into the Muhurat trading session, said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, in an interview with Moneycontrol.
However, he believes the index is approaching overbought territory, increasing the possibility of near-term consolidation. Therefore, investors would be better off booking partial profits at current levels rather than chasing the ongoing rally, he advised.
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