NIFTY Index Chart Analysis : MARKETS HIGH ON ADRENALINE
All-time high is coming soon is what we had hinted in our last Nifty analysis and here we are today, the forecast having proven true. The phrase ‘market hit a new peak’ has become such a standard remark now that the bulls have surged like there is no tomorrow. The Nifty has soared nearly 10 per cent in the last two and half weeks and touched a high of 12,934. This has been on the back of consistent flows form FIIs, better than expected corporate results, and a large boost of confidence injected after Moderna announced promising third phase trial for its vaccination candidate. The FIIs have pumped an inflow of over Rs 38,000 crore in the month of November so far, which is a record monthly inflow from the FIIs. Meanwhile, the DIIs have been selling heavily, but the strong support of inflows from FIIs is overpowering this.
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