We expect Nifty earnings to grow by 39 percent and 20 percent in FY22E and FY23E, respectively. The NIFTY50 is trading at 20x FY22E earnings, which is ~13 percent premium to its historical valuation.
14,000 to act as strong resistance amid December series expiry, says Rajeev Srivastava of Reliance Securities
The Nifty scaled a new all-time high at 13,777 and witnessed some sharp volatility in the week gone by to test the lows of 13,132 and recovered to close flat for the week at 13,749 levels. Rajeev Srivastava December 28, 2020 / 09:58 AM IST
The broader market may have had an iffy week but Rajeev Srivastava, Chief Business Officer, Reliance Securities,
thinks midcaps and small caps will hit their all-time highs in the first quarter of the calendar year 2021.For the Nifty, 14,000 will act as strong resistance, being the highest call OI of 39 lakh shares, while 13,500 will act as support on the downside, Srivastava tells Moneycontrol’s Kshitij Anand in an interview. Edited excerpts: