Won’t Go Short Unless Nifty Falls Below 8,730: Hemant Thukral

The Nifty 50 index has made small but steady strides to move above 8,900 during this week. Rollovers have been in-line with the previous 3-month average but the India Volatility Index remains unusually low. Does this mean that traders can expect a sharp move on major indices over the next week or will we see consolidation?

On BloombergQuint’s ‘Surf’s Up’ which tracks weekly trends in equity derivatives, Hemant Thukral of Aditya Birla Money says the Nifty is likely to move higher should it sustain above certain levels. He is bullish on housing finance stocks. For more on what levels to bear in mind and stocks to watch, listen in.