Trade long on the Nifty for targets of 5550-5600: Devang Visaria, devangvisaria.com

Devang Visaria, Chief Strategist, devangvisaria.com, in a chat with ET Now talks about the markets.

Are we going to be maintaining ourselves above 5500 anytime soon?

We do hope that this time around we are lucky to get past 5500 for the Nifty. If we manage to do that, we should have a rally to 5580-5600 levels on the Nifty. But even if we are range bound, there is enough action in specific stocks. So you are anyways making money.

Traders are really happy with these kinds of range bound markets because this gives them an opportunity to play the mid caps and the small caps. If we were to get past 5500, 5600 should be the next target for the Nifty and even from current levels, possibly with a stop of around 40 points odd, you could trade long on the Nifty for targets of 5550-5600.