Nifty hovers around record high, Sensex soars over 200 pts

With the Nifty hitting all time high of 8629, Ajay Srivastava of Dimensions Consulting says the market currently is in such a momentum that anything is possible – the Nifty scaling further highs cannot be ruled out.



The market currently is discovering new stories to take it up but banking will continue to be the driving force. “The stock market theory is rested on the banking sector and no other sector is likely to take it up,” says Srivastava. UR Bhatt, MD of Dalton Capital says long-term investors need to stay invested because in case the Budget delivers on the reform front then the market is sure to have a good trajectory for the rest of the year. However, short-term investors may have to deal with a bit of volatility in the very short-term.



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Posted in: Indian Market Tips