Nifty should test 8,450-8500; Bank Nifty eyes 18,900: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his view on how the market may behave in the days to come.

ET Now: The market has continued its winning streak to sixth trading session. What is the call on where we are headed?

Mitesh Thacker: For Nifty, we have maintained targets of closer to about 8,450-8,500. Those levels should be tested. Bank Nifty has now hit an important level at about 18,450 levels, which is falling trend line level (if you correct all the highs ever since the banking index peaked out in January 2015). So, you might see some kind of struggle around these levels. But the structure and the indicator set up is very positive. Once we start getting past 18,450, 18,900 should be the next level. The jump in Bank Nifty may not happen in this expiry, but into the first week of July expiry. That is the time, when I expect Bank Nifty to continue its momentum on the upside.