Nifty@20,000: What happens next?
Indian stock market achieved a significant milestone. The Nifty surpassed the 20,000-mark for the first time ever, a new record high. In fact, it shrugged off subdued global cues and outperformed their overseas peers.
The benchmark index closed up 0.9% or 176 points. Friday, the market continued its rally. The Nifty closed well above 20,000.
But from now on, all this will be in the past. Investors and traders are already looking to the future. So what will the market do now? And how should investors react? Let’s find out.
‘Bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria.’ - John Templeton The Indian stock markets are currently in an optimistic phase. There is hardly anyone who has a negative view on stocks at this point. The skepticism we saw at the start of the year has been abandoned.
No one expects a crash or a bear market at the moment. In fact, there's hardly a sector or theme that is disliked at the moment. Here's what our trading guru, Brijesh Bhatia published on recently Telegram.
Midcaps and smallcaps have been on fire for the last few months. And there doesn't seem to be any slowdown in momentum. In the early morning of 12 September 2023, both the midcap and smallcap indices achieved remarkable milestones, with the midcap index hitting a fresh record high of 33,245.85 and the smallcap index reaching an impressive 38,769.33.
In a recent concall with editors, Rahul Shah mentioned that the current bull market in the broader market is the strongest that he has seen. It's hard to disagree with this assessment. After all, retail investors are completely in love with these stocks.
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