A ‘mom of bull run’ is being predicted for the Indian inventory markets, which is able to begin early next year and final until 2024-25. Phillip Capital mentioned in a report that one can anticipate the mom of bull run to begin tentatively by early 2021 (H1CY21).
An analogous development was seen in 2009 when the Nifty50 index traded in an uptrend after making a low at 2,539 ranges. “Although the rally was not one-sided with index forming its own peaks and troughs, the general trend continued to be bullish,” the report mentioned.
Phillip Capital mentioned the Covid candle (of March quarter) was re-traced in three candles. This indicated the energy of the bulls out there and the bullish development that’s anticipated to proceed. The mid-caps and small-caps have additionally began to outperform the large-caps, which is a powerful pre-requisite for any bull run.
The broader markets have outperformed the benchmarks in phrases of returns.
Philip Capital mentioned that the mom of bull run will begin with Nifty50 ranges at 13,200-13,500. Tentatively, this might happen early CY21 and can final until 2024-25. “One can keep a conservative scenario at 17,000-17,500 Nifty levels, and the best-case scenario at 22,000-24,000,” the report mentioned.