Expect markets to head towards 9,100: Sushil Finance

If this week's bullishness persists in the next, Nifty could move between 9020-9100 in the coming days, says Swapneel V Mantri, technical analyst-institutions at Sushil Finance,

In line with the bullish view, Nifty started the week on firm footing and took out the resistance of 8900-8950 going into F&O expiry.

The upmove was bolstered by strong performance from frontline counters like Bharti, TCS, Reliance. With weekly close at 8939, Nifty has now closed at an all-time high (on weekly basis) since March 2015.

With firm close above the downtrendline on weekly charts, expect markets to head towards the higher levels of 9020-9100 in near term. Indicators RSI and MACD are firmly in bullish zone lending support to price action. On the downside, 8820-8870 good support zone.

Investors can take this opportunity to buy stock which are bottoming out on intermediate basis.

Following scrips are looking good in short to medium term - FMCG ( Dabur, HUL), Tyres ( Apollo tyres, CEAT, MRF), Private Banks ( Axis Bank)