Keep buying stocks but on dips: Mitesh Thacker

In a chat with ET Now,Mitesh Thacker, Technical Analyst, miteshthacker.com,shares his views on the market outlook.

Summary of the week and what would you hope to do next week?

It has been a very quite week in the sense that Nifty has broadly been in the same range as we saw in the last week. Very clearly, the idea is to keep buying on stocks but on dips as we still have not got signalled that the consolidation will break on the upside. It might take few more days of consolidation so around 5850 we keep on buying.

Metals have shown a strength plus some PSU banking stocks have shown a strength that is why we are buying so we are not yet getting back into stocks like real estate midcaps stocks which are showing lot of momentum but these are sectors to look into but overall, it is a good week, buy around 5850 or in case we dip to about 5800 or just below that, that will be excellent buying opportunities.