Kunal Bothra shortlists 3 sectors that can push Nifty above 17,500 next week

What matters for the markets, on the way up, whether the traditional sectors or the three key sectors the autos, FMCGs and banking, said market expert Kunal Bothra in an interview with ET Now. Edited excerpts

It has been a stellar run for domestic indices so far, but is this momentum likely to continue or will there be consolidation in store now?
This momentum should continue for the indices. It was a good two weeks for the markets where the momentum has gotten quite strong for the indices as well as for individual stocks and sectors. There has been a classical churn which has happened into this last three-four weeks of the markets started off with autos, FMCGs, and now you are seeing sectors like metals and IT leading the charts from the front.

That is always a heartening sign that you see a sector churn in a kind of an uptrend on the indices. What matters for the markets, on the way up, whether the traditional sectors or the three key sectors the autos, FMCGs and banking - I think if these three sectors manage to push up higher from where they have closed last week, then there is a much higher chance that the Nifty can scale up to levels of 17,500 and even beyond that. The onus now for the markets to go up higher would be dependent heavily on these three key sectors.

You spoke about the key sectors that will be in the limelight but what about individual stocks?
Couple of names which I am going to suggest as a buy Coal India, which I would suggest as a buy. I think it is a very interesting chart. The stock has given a classical breakout. It reminds me of what ITC was when the stock had broken past about Rs 200 after multiple months of consolidations. I am expecting something similar for Coal India as well, short term targets Rs 225, stop loss Rs 200. IndusInd Bank is also the other name which I think has popped up on many of my trading list as well so that is also a buy would suggest a target of Rs 1,080 over the near term stop loss Rs 1,020.

Is there more steam left when it comes to Bajaj twins, Can Fin Homes, Canara Bank, Star Health?
Yes, I would believe that there is more steam left for many of these stocks, but then one has to pick and choose the timing in which you enter into these trades. You cannot just buy these stocks randomly at momentum because there is bound to be periods where these stocks may get into a couple of days of consolidation. Bajaj Finance, Can Fin Homes and Star Health have opened up good upside for themselves - the only catch over here is that the timing in which you enter. It is much better to wait out for those odd phases in between the day when these stocks consolidate get into a mild correction, may be half a percent-1% kind of correction on an average.