Expedient Consultants

KV's ChanakyaShaala

Almost 8000 as we predicted

As we posted on April 12th, Nifty almost touched 8000 today. What next? History says that whenever market goes in to results season with more than 5% rally,there is high probability that even good results don't spike up the market. There is ample good news this time both on Home and International front, and many people feel that another 5% is on the cards. However, market has already rallied a lot. Barring any major accidents worldwide, we feel that  Nifty should remain in the range of 7800 to 8100 in the next 3 to 4 weeks. Indian Banking results as well as performance of metals in the International markets will be the key. We don't rule out another 5%, but it may take two more months. 

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