Nifty target at 6200; stay long: Sukhani

In an interview to CNBC-TV18, Sudarshan Sukhani, s2analytics.com shared his reading and outlook on market and specific stocks.

Opening bell: Can global cues alone take Nifty to 6100?

Below is the verbatim transcript of Sukhani's interview with CNBC-TV18.

Q: Has the market worked itself into an even tighter range or can you still see a clean trading trend for it in the next couple of days?

A: As of now the market have put itself in a very tight range. The range has become so narrow, just 65 points; 6,000 on the downside and 6,065 on the upside. This range won't last, maybe it won't last today; certainly it won't last beyond the Futures and Options (F&O) expiry. Therefore, the market is now setting itself up for a very decent trade. The breakouts from a range are always leading to expansion.

One should be having a very open mind; if the Nifty takes out 6,065-6,070 area and does it with strong momentum then a target of 6,200 is easily achievable and one should be long. In the unlikely or in the event of 6,000 levels being broken, take short positions. It is just a matter of time. I am not calling a directional breakout. I am just saying that trade is now setting up a very decent swing and position trade. 

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