Nifty likely to rally up to 6350-6400 led by banks: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com shares his views on the market.

ET Now: How would you summarise the day’s action and how much more in the current run up?

Mitesh Thacker: Clearly the focus was on the banking side with the RBI monetary policy taken in a positive sense. We did get a very strong move. We are back to levels of 6220 which was the short term breakout when the intraday breakout had failed on Thursday but given the fact that this time banks have come stronger and the hangover of the RBI policy being there in future, this should clearly signal that the up move today should extend and 6350-6400 is what even I would look for so I would be positive as well.