Nifty may hit 8,500 in a matter of days: Sandeep Wagle

In a chat with ET Now, Sandeep Wagle, Founder & CEO, Power My Wealth, talks about his trading strategies.

ET Now: It has been a pause of sorts for largecaps. Mid and smallcaps have also not fared badly. What would be your trading strategy for Friday, the last day of the week.

Sandeep Wagle: Nifty has cleared an important resistance level of 8,420-8,430 that it had made a couple of days back. We have not been able to clear 8,500, but it will be a matter of time before we do that. We may spend a 2-3 days in 8,400-8,500 band.

We will spend some more time trading sideways, with a positive bias. The moment we are out of 8,500, we will head straight away towards 8,800-8,850 levels. Whether it happens tomorrow or in the next week, could be anybody’s guess. But I would stay positive.