Major Indian equity indices have steadily risen to reclaim crucial levels. The Nifty 50 index has gained more than 2.5 percent so far this week. Participation from domestic institutions and retail investors has countered sustained foreign institutional selling. Derivatives trade data over the last three days indicates a positive bias but can traders expect this strength to stay as markets dive into the earnings season?
On Bloomberg Quint’s ‘Surf’s Up’, which tracks weekly trends in equity derivatives, Chandan Taparia of Anand Rathi says indices are likely to remain on an uptrend and recommends buying on dips. For more on what levels to bear in mind and stocks to watch, listen in.