NIFTY closer to lifetime high as expected. Fresh 1000 point rally coming?
We expected the market to trade close to fresh highs before counting day! Market has moved very strong towards fresh highs.
Available Options data suggest that NIFTY likely to move towards 12000 before election day.
As historical data suggest, Formation of stable government can help NIFTY rally closer to 13,000 on election results and can correct back towards 11950-12250.
High risk precautions should be taken as the market would gap up or gap down on the counting day due to early trends.
Investors can taken help of this rally to exit few stocks from fundamentally weaker sectors like PSU Banks, some select metals, etc
Strong rally across the market in the fundamentally stronger stocks and value basket likely to continue.
Bank NIFTY will remain the most volatile index.
Earlier post on NIFTY:
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