Last Diwali Sensex gained 499 points on Muhurat day (October 28, 2008). Nifty closed at 2865 managing a gain of 134 points. Nearly 1 year has passed and now the Nifty traders at 5100 levels, a gain of 78% in just 1 year.

The 5-6 months of consolidation were very painful to the Indian investors, the nifty swung between 2600 and 3100 levels, this months of consolidation included Nov ’08 , Dec ’08, Jan ’09, Feb ’09, Mar ’09. The market gained momentum only after March 2009.

It has been a vertical climb thereafter, and the electoral results were a game changer. The Sensex hit the upper circuit, for the first time ever, twice on May 18 on the back of panic buying, triggered by the absolute verdict favoring a Congress-led government. The markets have not looked back thereafter, climbing each technical barrier and now be stand beyond 17,000 levels on Sensex, and 5000 levels on Nifty.

Large, Mid and Small cap all did participated in the rally. Retail, FII, DII all pumped large amount of money that helped us gain more than 78%, at the same time DOW crossed 10,000 along with other Global ques also helped us.

Samvat 2065 ended on a good positive note. Lets hope that the next Samvat 2066 starting on 17th October also brings a positive note for all the investors and Traders in Indian Stock market.

The Major Stock that participated in the rally are as follows:

This also brings us to the conclusion that will are we heading towards 6500 levels on Nifty, well first we might must see some consolidation at 5100 levels, if we manged to crosses 5200 then we can surely see 5360 levels on Nifty. At the same time it also depends on Global ques, Many analyst predict that tough Dow managed to cross 10,000 levels, its likely that it will be able to sustain at higher levels

The immediate support for the Nifty is 5070, the resistance being at 5180 levels. Lets hope everything turns out in our favor and Sensex crosses 25k levels the following year.

Other Interesting posts on the Web:

• See Nifty in 4200-6200 range next year: Rakesh Jhunjhunwala
• Sensex to hit 21000 before next Diwali?
• Samvat Okay!

Wishing All your readers a very Happy Diwali

Tags: 2009 timings for Muhurat Trading, Best Stocks, daily stock tips, happy diwali, muhurat trading timings, nifty at 6500, nse bse tips, sensex at higher levels

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