Indian benchmark indices signed off the years in style after netting a gain of around 27 percent in the year gone by. This kind of return, especially on the back of underperformance in the preceding two years, may not appear to be excessive return.
There were many such occasion in the past since 1980 when the market has continued to deliver in the subsequent year even after clocking 25 percent plus kind of returns.
Hence, this rally may well get extended into the early part of the New Year but the moot question in front of the investor is to what extent.
For this purpose, if we dissect the long-term trends then we will know that this market is staring at a critical resistance level placed around 10,650 and in need of a breakout.
Hence, for bigger up moves, the index needs to witness a sustainable breakout above the said level. In case such a breakout takes place, then bulls can easily take the indices to much higher levels and may even head towards 11,200 levels on the Nifty.
Get real time advice for Stock Trading tips , Best Accurate Stock Tips , Stock Market Live , Equity Tips , Intraday stock tips , Mcx tips , and all Maket Updates From capitalstars
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CAPITALSTARS INVESTMENT ADVISER: SEBI REGISTRATION NUMBER: INA000001647
