Stock Market Highlights: Sensex Ends 153 Points Higher, Nifty50 Reclaims 17,050 As Market Rebounds - CNBCTV18

Healthy correction for market, support for Nifty50 around 16,600-16,700 levels: Goldilocks Premium's Gautam Shah 

Gautam Shah of Goldilocks Premium believes the current correction is a mild dip in a bigger bull market. This is a healthy correction for the Indian market, he said in an interaction with CNBC-TV18. He sees support for the Nifty50 index around 16,600-16,700 levels. He said the index appears to be getting into an oversold zone around 16,600. 

He is positive on real estate, capital goods, telecom and pharmaceutical shares. Shah believes the current dip in unlock trade stocks is providing a good opportunity to enter.

Reliance Industries could be the leader for the Nifty to bounce from here on, and the stock could move towards its lifetime highs, he said.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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Stock Market Highlights: Sensex Ends 153 Points Higher, Nifty50 Reclaims 17,050 As Market Rebounds - CNBCTV18
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