Sensex may move up to 18300 in the short term: Vinith Jain, Siddh Capital

Vinith Jain, director, Siddh Capital, in a chat with ET Now talks about the markets.

What is your take on the Nifty and what would you do with the market right now?

The market has been on the upside since it took the support at 4800 on the Nifty, 16000 on the Sensex and we still see upside here. Sensex could move up to 17600 to 17700 where it could face a very strong resistance. The markets have been moving in a parallel channel for quite sometime now. The parallel channel has been of 2000 points on the Sensex and we could see up to 18300 in the short term maybe.