Tech Take: Nifty to target 16,300-16,600 in near term : vima

Tech Take: Nifty to target 16,300-16,600 in near term


Tech Take: Nifty to target 16,300-16,600 in near term
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Nifty ended up 245.60 points, or 1.55%, at 16,130.75 after touching an all-time high of 16,146.90 during the day. Technical analysts advise putting money in fast-moving consumer goods, IT, metals and real estate companies.
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Mumbai: Nifty could head to 16,300-16,600 in the near term after breaking the elusive 16,000-barrier. The index had been moving in a band of 15,500-15,900 for two months. It has now broken out of the zone and closed above 16,000, which has given further conviction that the rally will continue, said technical and derivatives analysts. Nifty ended up 245.60 points, or 1.55%, at 16,130.75 after touching an all-time high of 16,146.90 during the day. Technical analysts advise putting money in fast-moving consumer goods, IT, metals and real estate companies.

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