See Nifty touching 3800 in medium term: Vibhav Kapoor

Vibhav Kapoor of IL&FS said the markets have seen around 40% run-up in a time period of 5-6 weeks. At this point in time, valuations for most of the stocks are good or some stocks even seem to be overvalued.
“I believe the market will be range-bound between 3,300 and 3500 on the Nifty. However, in the medium term there is a possibility of the Nifty touching 3,800 mark,” Kapoor said. But in the immediate period, 3,550 is the resistance for the market.
Commenting on the expected rate cut by the Reserve Bank of India (RBI), Kapoor said the market is expecting around 50 bps cut, both, in reverse repo and repo. However, the RBI may not go in for a Cash Reserve Ratio (CRR) cut, he added.