BT500 Wealth Creators Summit: When asked about his opinion on everything in terms of goodness reflecting in the markets now, Nilesh Shah said, “I feel like I am in Multan, Pakistan in 2004”.
“Going forward, 21000 is likely to act as a crucial level for the Nifty as call writers have built their maximum positions at that strike price. A resumption of the current uptrend might be seen above 21000, with the potential to reach 21550.”
The Nifty index hit a new high of 21,006.10, rising as much as 105 points in intra-day deals. It ended at 20,901.15 in the previous session (December 7). It took the Nifty 61 sessions to hit the 21,000 mark after hitting the 20k mark on September 11, this year.
The benchmark Nifty hit a new peak, breaching the 21,000 level for the first time ever today, December 8. The Nifty index hit a new high of 21,006.10, rising as much as 105 points. The MPC decision to hold rates appears favorable for the equity markets, providing an additional boost.