Bull run to continue, but 2022 won't be like 2020-21

In the last month, broader index Sensex and Nifty have corrected nearly 3 per cent. A DH poll of 10 analysts suggests that after this massive correction, Sensex could touch 66,000 in one year, while Nifty could touch around 19,500. These analysts say that, in the immediate term, the Sensex would be in the range of 55,500 and 59,200.

Narendra Solanki, Head, Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers said that while one cannot put a number as to where the Sensex and Nifty would head in the near term, he said that consolidation will continue even in the near future.

S Hariharan from Emkay Global Financial Services said that there will be a limited upside for large-cap stocks and drag down in mid-cap stocks.

“Till the end of December, Nifty is expected to trade between 16,400 to 18,200. In the same period, Sensex is likely to trade in the range of 55,200-61,100. Given the strong growth drivers in place for India, we remain bullish in the mid- to long term and expect the benchmark indices to gain around 10-12 per cent from its all-time high by December 2022”, said Yesha Shah, Head, Equity Research, Samco Securities.

Tradingo’s Parth Nyati said that though the bull run will continue, things won’t be as easy as it was last year, therefore investors need to be selective while picking any stock.

“We advise short term traders to avoid aggressive positions and trade with proper risk management. However, from a medium-term to long term perspective, we advise investors to buy gradually on declines”, Ruchit Jain, Lead - Research at 5paisa.com.

Geojit Financial Services Head of Research Vinod Nair said that markets are more stable compared to other emerging markets as there is an increasing culture of domestic equity investments, economic reforms and China plus one strategy. He added that these factors will support equity markets in the long term.

The Sensex ended 157 points higher to end at 58,807.13 and Nifty reclaimed the 17,500-position on Thursday.

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