Stay long Nifty with stop-loss of 10,250

Nifty Bank had been less bullish than the overall market until the bank recap plan was unveiled

The market continued to hit new highs on the back of the massive recapitalisation plan for PSU banks. Bullish global trends also helped to keep sentiments high. The Nifty hit a high of 10,384 on Monday. More than FPI (foreign portfolio investor) buying, it was retail and domestic institutional buying that pushed the market to successive new highs.  

Obviously, the new highs confirm that the long trend remains bullish and momentum has accelerated. However, this is a new zone so, target setting is near-impossible. Depending on levels of optimism, any target between 10,400 and 10,650 could be hit. The movement