Predicting the Rise of Nifty 50 (NIFTY) and Sensex (SENSEX): Expert Insights on Timeline to Milestone Figures
- Indian stock market indices failed to sustain at higher levels after reaching new peaks, leading to doubts about the market’s future direction.
- Experts suggest we are in the second of three bull markets in the post-COVID period, with the Nifty 50 index expected to reach or come close to the 24,000 mark by Diwali 2024.
- By the end of the current financial year or by February to March 2025, the 50-stock index is expected to touch the 25,000 mark, and the BSE Sensex is projected to reach 80,000 levels.
After reaching new peaks, Indian stock market indices witness correction, raising questions about the market’s future direction. Experts suggest we are in the second of three bull markets, with Nifty 50 expected to reach 24,000 by Diwali 2024.
Market Outlook: Bull vs Bear
According to Sumeet Bagadia, Executive Director at Choice Broking, the Indian stock market has been experiencing three bull trends on average in the post-COVID period. The first bull trend saw Nifty touching 22,000, while in the second, Nifty missed touching 23,000. The next bull trend, expected ahead of Diwali 2024, could see the Nifty 50 index touch or come close to the 24,000 level. In FY25, another rally on Dalal Street is anticipated ahead of the Budget 2025, potentially pushing the Nifty 50 index to the 25,000 level.
Sensex’s Journey to One Lakh Landmark
Ganesh Dongre, Senior Manager — Technical Research, echoes Bagadia’s views, stating that the BSE Sensex typically rises thrice the rally registered by the Nifty 50 index in a given time horizon. By the end of Decemb... Read the full article for FREE at COINOTAG!
