Street signs: Traders eye 16K on Nifty50, Tatva Chintan's GMP at 60% & more

Analysts say, perform­ance of the banking stocks would remain key if the market has to climb higher

Traders eye 16K on Nifty50

Technical analysts see the benchmark Nifty50 breaching the 16,000-levels soon. The positivity stems from the fact that the index has managed to close above 15,900, a mark the index made several attempts to pass. “Finally, the sturdy wall was breached and that too on a closing-basis. Now, 16,000 is merely a formality and if there is no aberration on the global front over the weekend, we would see the market reach­ing the millstone in the coming week. After this, 16,200 is the next level to watch out for,” said Sameet Chavan, chief analyst (Technical and Derivatives),