Nifty at 21,000 by Diwali? It's possible, say technical analysts

The Nifty 50 index hit the 20,000-mark milestone in intra-day deals on Monday, and is on track to hit 21,000 levels in the next two months (by Diwali) – an upside of 5 per cent from the current levels, suggest technical analysts. However, there can be intermittent corrections on the way, which analysts suggest can be used to buy stocks.

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“The last few days are testimony to the undertone of this bull-market. The good thing is there is new leadership from stocks of information technology (IT), capital goods and public sector enterprises (PSEs). BFSI stocks that remained under most pressure are back into positive