Nifty may test 8,650-8,680 on Friday: Sandeep Wagle

In a chat with ET Now, Sandeep Wagle, Founder & CEO, Power My Wealth, shares his view on the levels Nifty may test in the days to come.

ET Now: What is your view on the market? Which way do we move from here? How do you play the market now?

Sandeep Wagle: We saw a gap up opening in Nifty on Wednesday. You hardly see any gap up index the index. That is a very positive signal. That was a breakaway gap and the move is likely to continue. I would talk of Nifty in the range of 8,500 to 8,800.

At 8,650, we may see some kind of a resistance. We may fall by 50-80 points, but that should be bought into. As long as the index does not breach 8,500, it will be on course to touch 8,750-8,800 levels. That said, the index may spend some time in the 8,600-8,800 region over the next few days.

But, I do not see any pattern that suggests any down move. So now there will be some different stocks, there will be some different sectors which may move. In the banking pocket, there is still some rally left. May be that will happen on Friday and we will probably be at 8,650-8,680 on Friday itself.