Nifty likely to surge to 9,200-9,250 levels by Budget: Sandeep Wagle

In an interview with ET Now, Sandeep Wagle of Power My Wealth, shares his views on the levels Nifty may see ahead of the Budget.

ET Now: We are drawing closer to the expiry day with Nifty at 8,900. Can we see Nifty at 9,000 levels in the new series, ahead of the Budget?

Sandeep Wagle: It seems so. Last Tuesday, Nifty broke the prior swing high of 8,620-8,630. It was very clear that 9,200 would be the next target and for the 50-pack index. The only question was that whether it would move up one way or whether it would move zigzag.

Till now, it has moved up one way. I do not see anything can cap the index gains before 9,200-9,250 levels. If this happens, it should be termed as the 'pre-Budget rally'. Having said this, it does not really matter if we see a zigzag correction of 50-100 points. It should be used to accumulate stocks. I do not see the Nifty stopping before 9,200-9250.

ET Now: What is it that you would watch out for in Wednesday's trading session?

Sandeep Wagle: I would recommend 'Buy' on PTC India (Power Trading Corporation) with a stop loss placed at Rs 95.50, for the target of Rs 106 per piece. I also recommend 'Buy' on Jubilant Foodworks which is about to breakout. Place a stop loss of Rs 1,412 for this stock, for the target of Rs 1,478.