NIFTY's UPWARD TREND

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The Indian Stock Market has noticed a sudden spike, Nifty after sliding down to 8800 mark today, the market bounced back to 9050 mark, since the foreign investors are attracted from various proposals made by the Finance Ministry with respect to the various booster package announced recently and due to country's partial lockdown.   Apart from this one of the major factor for the sudden spike in Nifty is that Nasdaq and Dow 30 were remained bullish throughout the trading session.  This rally might continue on Tudesday also and the level  of 9150 mark or more can be witnessed.   Again the banking heavy weight shares like ICICI Bank, HDFC Bank, Kotak Mahindra Bank and other few private banking and NBFC sector may go up by 3% to 5% pulling the Nifty in upward direction.  The rally in the Nifty will be a range bound spike and a steep correction can be noticed thereafter.  

It is also predicted that the stock like ITC and other companies those who started their production units after getting due approval from Home Ministry will also have appreciation in their values subsequently leading to upward trend in Nifty.


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