Today am going to talk just fundamentals and tell you where the NIFTY will go next Diwali in 2018!!
Today Nifty hits the new all-time high of 10191!
Last Diwali we were at 8600 and this year with Diwali just a week to go we are at all time high of 10191. The cheer from banking sector, inflation and production has taken nifty out of worries. It is now placed well and all set to take on longer bullish journey. So, by the time we reach Diwali this year we might hit 10,300 or near about! On that day I am going to talk about the investments to be made from this Diwali to next Diwali. Now for today am going to take you step by step different points NIFTY will cross in next one year!
What next for Nifty and Indian stock markets?
The first important thing that is coming up as biggest test for Narendra Modi is the Gujrat Elections in December. It looks to be easy throne to retain for BJP and that cheer will take Nifty to 11,000 by end of the year.
New Year is always a buying time and many people make new investments and profit booking. That way we can see small hiccups but could still be somewhere close to 11,000-11,100 and the Pre-Budget will push the Nifty to 11500. Pre-Budget rally will happen from mid of January to first week of February as Budget is scheduled to be released in first week of February. So, by end of February we can expect the 11,500 to be held.
Next stop is in April.
Nifty will then track Karnataka elections and see whether Congress can retain their last big state or will the congress mukt bharat be completed with Karnataka loss? Recent polls show that BJP will win it with simple majority which will be another good positive trigger for Modi’s Mission 2019. This Victory will take Nifty to 11,800 to 12,000.
We now have Earnings of the companies coming in and GDP coming for the fiscal year 2017-18. With macro factors picking up we can expect good GDP figures and that will keep the Nifty moving up. From May till Diwali in November in the gap of 6 months there are no elections. So, it will be the economic factors and Earnings that will act as big boost. Then we will see a massive 1000 points up trend in 6 months to end at 13,000 on Diwali 2018.
So, from 10,300 to 13,000 is a huge up trend that we are about to see. Wait for my Diwali post which will give you Diwali stocks that will surely increase by 25% by next Diwali.