According to Milan Vaishnav, MSTA, founder of Gemstone Equity Research & Advisory Services, over the coming days, the Nifty may find itself resisting the 25,000-25,250 zone and undergoing measured range-bound consolidation.
"If this happens, this should not come as a surprise to us," he said in an interview with Moneycontrol.
He expects the market breadth to stay stable. "The only concern is the sharp increase in VIX that has accompanied the market's rise. Otherwise, I do not see any reason of major underperformance of the benchmark indices," he said.
Regardless of whether the market is trending higher or slipping into under consolidation, Milan Vaishnav expects Bank Nifty to outperform the broader Index.
Is the Nifty 50 poised for further consolidation and profit booking after the nearly 8.5 percent rally last week?