New Delhi: Nifty finally managed to touch the much-awaited 20,000 mark in the second attempt. Earlier in July also, Nifty had tried to cross 20,000. HDFC Securities MD and CEO Dheeraj Relly gave this information.
He said strong inflows from local investors have helped Nifty achieve this feat. India’s recent successful achievements in space and foreign diplomacy have generally boosted sentiment towards Indian stocks, at a time when the global situation is not good. Small-cap and mid-cap stocks have moved too fast and in some cases excessively. Rupak Dey, Senior Technical Analyst, LKP Securities, says the benchmark index has hit historic highs and crossed the 20,000 mark for the first time.
This impressive rally followed a breakout from the descending channel last week. Looking ahead, as long as Nifty remains above 19,900 level, the market sentiment is expected to remain upbeat. On the positive side, we are looking at it between 20,100 and 20,200. He said, if there is any solid breakthrough above 20,200, it could pave the way for Nifty to move towards 20,500 points.
#WATCH | Mumbai, Maharashtra | Celebrations at National Stock Exchange (NSE) as Nifty50 touches 20,000 mark for the first-time ever. pic.twitter.com/bWacsEQOEf
— ANI (@ANI) September 11, 2023
