Nifty To Trend Upwards But May Face Resistance At 9,200, Says Aditya Agarwal

The Bharatiya Janata Party’s (BJP) win in key Indian state elections has led the Nifty 50 index to record levels. The India Volatility Index (VIX), a measure which reflects expected volatility in the near term, trades near all-time lows. But after gains of over 2 percent this week, is the National Stock Exchange’s (NSE) benchmark index likely to face resistance? On Bloomberg Quint’s ‘Surf’s Up’, which tracks weekly trends in equity derivatives, Aditya Agarwal of Way2Wealth Securities tells Agam Vakil that the trend for Nifty futures remains positive but may face resistance around the 9,200 level. He is bullish on certain index banking stocks. For more on levels to watch and stock ideas, listen in.