Bank Nifty will lead the market at the Nifty: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, aptartindia.com in an interview with ET Now talks about the market outlook.

What is the call on markets right now?

I am not that bearish as I was couple of days back and having said that with some bit of certainty that the range for the Nifty is now capped at 5500 to 5700, nearer 5550-5580. I would like to buy nearer 5700 or would like to sell as in not to short but book profits.

Bank Nifty is showing a lot of strength and Bank Nifty will lead the market at the Nifty. That is the main reason where I am not getting into a short sell mode or selling this thing. Yes, if you have bought at lower levels, some profit booking is prudent at maybe nearer 5700 but I see Bank Nifty outperforming and I do not see the Nifty crashing down from current levels. I would take a bullish bias for the next couple of days and a stock specific view.