InvestorQ : As a new year begins, what is your view on the Nifty? Can we see 14,000 levels breaching decisively on the Nifty?
vaishnavi mhatre made post

As a new year begins, what is your view on the Nifty? Can we see 14,000 levels breaching decisively on the Nifty?

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diksha shah answered.
8 months ago
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Well, we are not too far from the 14,000 mark; in fact we are less than 20 points away. The Nifty closed almost on the brink of 14,000 and the Sensex on the brink of 48,000 on 31 December. VIX is under a tight leash so there is no immediate risk of any sharp correction unless volatility picks up in a big. That is something that normally happens in January.

The one big sector you must watch out for in the next few days is the pharma sector. With the massive inoculation project underway across the world against COVID infections, Indian pharma companies have a big role to play with 60% market share in vaccines. Irrespective of market direction, pharma will be the sector to positively surprise in Jan-21.

It has been a rollicking year end for foreign portfolio investors in India. FPIs were net buyers worth Rs.1136 crore while DFIs sold Rs.258 crore on 31 December. In a stunning signal of confidence in Indian markets, FPIs have infused a total of Rs.125,000 crore into Indian equities in November and December. This may taper in January, but has been huge.

Global cues are rather mixed. India’s biggest market influence, the Dow Jones Industrial Average or DJIA, had a strong close for the year; up about 70 bps. However, the NASDAQ was marginally up. Europe, especially the UK markets, was sharply down as the UK is now officially out of the BREXIT. SGX Nifty is flat to positive in early trades.

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