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Given the strong optimism, the bulls are likely to take the Nifty 50 to the 22,000-22,200 zone in near term with an immediate support at 21,800-21,700 levels, followed by crucial support at 21,500 mark, experts said.
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Satish Ramanathan expects that in 2024, foreign institutional investors (FII) participation will improve, as also domestic institutional investors (DII) interest sustaining.
Charts are saying that Nifty is in a strong uptrend. While 22,000 stays possible, 22,500 may take some time to come by, says Milan Vaishnav.
The current market rally indicates that consensus is expecting a more than 75bps rate cut in fed funds rate, says Kedar Kadam.