BSE Sensex Above 60,000: Comments by Santosh Meena, Swastika Investmart
Indian markets have reached a big milestone with BSE Sensex trading above 60,000 for the first time. BSE Sensex and NSE Nifty have witnessed a strong performance but mid-cap and small-cap stocks have been lagging behind. The markets are still looking strong and we can expect further momentum, depending on the trends in the global markets. Comments on the Indian market move by Santosh Meena, Head of Research, Swastika Investmart follow....
The roaring bull market is continued in the Indian market with climbing all walls of worries where Sensex has crossed the new milestone of 60000. We are in a classical bull market like the 2003-2007 phase where this bull run is likely to continue for the next 2-3 years however I will put the word of caution after a parabolic move in last few days because short term correction can't be ruled out in coming days. Global indices like Dow Jones and Dax are near to their critical resistance and may witness a correction from here. We are in a strong uptrend and outperforming global markets while some mean reversion can be seen in the coming days where rising crude oil prices and surge in US bond yield could cause near-term volatility.
Since the overall view is bullish and Sensex can march towards the 100000 mark in this bull run, therefore, investors are advised to remain invested where any 10-20% correction will be a great buying opportunity. SIP is the best way to ride the current bull run.