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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.
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.
A big block of shares would come up for sale, and block-trading head Pawan Passi would tip off the funds. One even told Passi he had put that investor “in the game” (adding a colorful modifier) and that the investor “would be at the kiddie table” if not for him.