Sensex jumps from 50,000 to 59,000 in 8 months, will it touch 60,000 by the end of September?

The biggest fall in the S&P BSE Sensex in March last year and its subsequent sharp rise has surprised traders and investors. Despite some downside in the middle, the bulls have maintained their hold on the stock market. The market remained bullish even during the second wave of Corona.

The Sensex had crossed the 50,000-point mark for the first time on January 21 this year. Since then, it has crossed the 59,000-point mark in the eight months since. It had closed at 59,141.50 on Thursday.

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Nifty 50 crossed the 17,500 level on 15 September after a few days of consolidation between 17,300-17,400. The next day it closed at 17,629.50.

The reason behind this boom is the relaxation of restrictions imposed due to the epidemic, opening up of the economy, recovery in growth, low interest rate, high liquidity and measures taken by the government as well as the Reserve Bank of India to accelerate the economy. There are big reasons.

Many experts believe that the Sensex can cross the 60,000 level by the end of September. It may even double by 2025. The short term target for Nifty 50 is 18,000, which can be achieved this year only.

Swastika Investmart says, “There is a bullish phase in the stock market in which Sensex and Nifty are making new highs. The bullishness may continue for the next two to three years. However, there will be some downsides in the middle. “

What should investors do

Metal stocks have gained 76 per cent in the last eight months. After this, Power Stocks has also shown strength with a rise of 48 percent. IT, Healthcare, Capital Goods, FMCG, Oil & Gas, Telecom and Realty indices rose between 18 and 34 per cent.

Rahul Sharma, Founder, Equity99, says that banks have not participated in the rally yet and may now rise. Sharma expects Sensex to reach 60,500 and Nifty 18,000 in the short term.

“We are not recommending any fresh buy at this level as the market has gained a lot in a short period of time. We have advised investors to set stop losses for their positions. To create fresh positions, the market will open,” he said. There needs to be some drop in that.”

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