Market expert Deven Choksey in an interview to ET Now said that the overall direction of the market remains positive. The recent sharp rally was significant, and while the money market may take some time to adjust, the trend continues upward. He expects increased support for the index from heavyweight sectors like IT, in addition to the already contributing BFSI and Reliance.
With this, Nifty could touch the 25,200 level. After reaching that zone, the index may consolidate in the 24,200–25,200 range before making the next move upward. A short-term correction could occur due to the steep rise, but that would present a good buying opportunity for investors.