The trend in Nifty is clearly up: Sajiv Dhawan, JV Capital Services

Sajiv Dhawan, MD, JV Capital Services, in a chat with ET Now talks about the Nifty.

What is your call really on the index right now and how you would play it? Aslo, what is your take on Infy?

The trend in the Nifty is clearly up. It has been for the last couple of weeks actually and I think you have seen the short sellers are bit frustrated. They are looking for an opportunity to take a markets slower that is just not happening.

Today, apart from the last half an hour, was a relatively dull day and now you are seeing the Nifty cross that 5400 level which I think a lot of investors were hoping would have happened in the morning had Infosys come up with some better than expected results.

But from a trader’s perspective, you will be probably buying on the dips. Yes, the valuations remain a concern but the momentum is on your side as lot of midcaps and soft stocks, sectors which are buzzing around. Normally when you have the results, the fundamentals finally catch up with some of these companies. So as long as the global situation remains reasonably good, there is no reason to see why the markets would correct more than 50 to 60 points in the Nifty. Even if that happened, with the current sort of sentiment that was, the dip would probably be bought into.