Should The Nifty Bank Sustain Above 20,500, It Could Gain 5%, Says Gaurav Bissa

Since the presentation of the Union Budget last week, the Nifty 50 index has reclaimed 8,800 before retreating below the mark. The India Volatility Index hovers near 5-month lows as benchmark indices continue to consolidate. Neither the Reserve Bank of India’s (RBI) decision to hold interest rates, nor earnings have been able to move major indices substantially. With few triggers in the horizon, can derivatives traders then expect more consolidation? On BloombergQuint’s ‘Surf’s Up’ which tracks weekly trends in equity derivatives, Gaurav Bissa of LKP Securities tells Agam Vakil that there is further room for an upside should indices break above key technical levels. For more on what levels to bear in mind and stocks to watch, listen in.