Nifty Could Make Lifetime Highs If It Moves Above 8,968: Chandan Taparia

The monetary policy reviews in the U.S. and Japan are behind us. Central banks in both countries have kept interest rates unchanged. The Nifty 50 index has since opened positively and is now challenging the 8,900 mark on the upside. Foreign institutional investors had hedged against their longs this week as insurance, but should they still need to hold on to those bets? What is the technical setup looking like? Should investors anticipate lifetime highs on the Nifty again?

On Bloomberg Quint’s ‘Surf’s Up’, which tracks weekly trends in the futures and options market, Chandan Taparia of Anand Rathi tells Agam Vakil that if the Nifty breaks out above 8,968, it may be heading to new highs. He also favours shares of Aurobindo Pharma, Tata Communications and Arvind in the near term. For more, on where the markets are headed, listen in.