There could have been much disbelief among the investors about nifty movement. But at last our index is going to guide US market to surpass thee previous high. We may see S&P surging ahead towards 2872 which was the previous high. Nasdaq has already surpassed the ATH recently.
This is just a comparison to see whether our index is at par with US market. For all practical purposes Nifty takes cues from itself and is independent from other index. It is not necessary for our market to follow the other markets.
The stellar I quarter performance of large caps, good monsoon, slash in GST paves way for further lift in the index before expiry.
What to expect with in this expiry:
Nifty can reach 11225 surpassing the previous high of 11171. Anything above is a bonus for the investors.
Bank nifty can reach 27350. This is possible if the spot closes above 27150 on hourly basis.
Happy Trading!!
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