CAN SENSEX CROSSES THE YEARLY HIGH AT 21484 LEVEL REGISTERED IN SEPTEMBER-2013...???. The yearly low of SENSEX at 17449 registered in August-2013. Similarly Nifty Yearly range is 5119-6415. It is very likely that the Sensex may cross the yearly high earlier than to Nifty.
The utmost pessimism built in August-2013 gave many stocks to register yearly lows during that month but the euphoria created with Rajan's induction at the helm of RBI gave birth to a solid uptrend in the stocks. The sprouts of economic recovery will encourage the FIIs to pour more dollars in Indian stocks. The potential to grow further with more liberalization and stable economy is a safe heaven for them to go for an undeterred bargain hunting.
Nifty started a relentless bull run despite of hiccups during the journey started with a double bottom at 4650-4700 level and the low registered on 26th Dec-2011 at 4624 level took a sharp rise by surprise,registered 5564 on 13th Feb-2012, since then, it maintained the median at 5000 levels as a rock bottom support for all other serious corrections happened.
Now, the upward journey to touch Nifty 6700 level may be a bonus to come after elections with a rider as BJP has to form the government. The sector rotation has happened with IT & pharma lead the current rally may now the baton may be in hands of OIL&GAS and Banking sector . The big rise in the SENSEX or NIFTY may take place with RIL and ONGC lead the run, just wait and participate....
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