"We look for higher levels on the index over the next few weeks, in the range of 8800-9000," says Gaurav Mehta, Ambit Capital.
08:49
Gaurav Mehta, Ambit Capital says with key trendline resistance in the 8150-8200 region having been respected barring a brief intra-week breach, the near-term uptrend in the index has been reinforced while the structural trend stays up.
"We look for higher levels on the Nifty over the next few weeks, in the range of 8800-9000," he adds.
On stocks, he says the brokerage recommends buy on IndusInd Bank , TCS and Coal India . From the mid-cap space, it highlights a long-term breakout in Alstom India , he adds.
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