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Will Nifty see 6500 before next Diwali?

This article was posted on Oct 16, 2009 and is filed under Market Outlook

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:

Script name Current close Last Diwali close 1 year % gain
Varun Industri. 182.8 28.95 +531.43%
Jindal South W. 1730.3 288.35 +500.06%
Sterlite Techn. 307.6 54.4 +465.44%
Lanco Infratech Ltd 559.35 99.05 +464.71%
Hindustan Oil . 351.9 63.85 +451.13%
Aurobindo Phar. 865.8 160.85 +438.26%
Jai Balaji Ind. 243.45 47 +417.97%
Almondz Global. 46.85 9.1 +414.83%
IVRCL Infrastr. 417.65 83.3 +401.38%
Madhucon Proje. 254.05 51.25 +395.70%
Ruchi Infrastr. 63.05 13.35 +372.28%
Orbit Corporat. 271.05 57.7 +369.75%
OCL Iron & Ste. 19.6 4.2 +366.66%
Sesa Goa Ltd 354.7 77.35 +358.56%
Torrent Power Ltd 298.15 65.05 +358.33%
Core Projects . 195.55 42.8 +356.89%
Bajaj Hindusth. 208.2 46.2 +350.64%
Peninsula Land. 94.6 21.25 +345.17%
Mcleod Russel . 209.75 47.2 +344.38%
eClerx Services Ltd 385.1 87.25 +341.37%
Kiri Dyes & Ch. 437.7 99.45 +340.12%
Hyderabad Indu. 428.2 97.45 +339.40%
Jaiprakash Ass. 260.75 59.45 +338.60%
Banswara Syntex Ltd 67.65 15.45 +337.86%
R S Software (. 56.95 13.05 +336.39%
Shree Renuka S. 207.75 47.7 +335.53%
CEAT Ltd 173.1 39.75 +335.47%
LIC Housing Fi. 801.95 190 +322.07%
Oracle Financi. 2158 517.15 +317.28%
K E C Internat. 580 139.15 +316.81%
JSW Steel Ltd 917.3 222 +313.19%
McNally Bharat. 192 46.55 +312.45%
Hexaware Techn. 84.2 20.45 +311.73%
Premier Ltd 149.75 36.65 +308.59%
Micro Inks Ltd 409.85 100.6 +307.40%
CMC Ltd 1225.95 300.95 +307.36%
GVK Power & In. 50.45 12.4 +306.85%
Dewan Housing . 200.1 49.25 +306.29%
Shree Cement Ltd 1580.25 401 +294.07%
Bajaj Auto Fin. 296.35 76.2 +288.91%
Rajesh Exports Ltd 82.2 21.2 +287.73%
Aptech Ltd 279.9 72.4 +286.60%
Dhanalakshmi B. 170 44.55 +281.59%
KNR Constructi. 122.4 32.6 +275.46%
Tata Motors Ltd 579.3 154.4 +275.19%
Central Bank o. 141.25 37.75 +274.17%
IndusInd Bank Ltd 133.95 36 +272.08%
Nova Petrochem. 25.75 6.95 +270.50%
Birla Corporat. 303.05 81.8 +270.47%
JK Lakshmi Cem. 136.25 36.9 +269.24%
MphasiS Ltd 631.35 171.85 +267.38%
Eveready Indus. 69.8 19.15 +264.49%
Yes Bank Ltd 236.8 66.2 +257.70%
Sterlite Indus. 820.45 230.25 +256.33%
IMP Powers Ltd 121.45 34.35 +253.56%
Polaris Softwa. 148.1 42.4 +249.29%
Supreme Infras. 136.35 39.1 +248.72%
BGR Energy Sys. 518.5 149.15 +247.63%
Nava Bharat Ve. 404.2 116.65 +246.50%
V I P Industri. 147.85 42.7 +246.25%
Hindustan Cons. 139.75 40.45 +245.48%
Patel Engineer. 488.15 141.3 +245.47%
Phoenix Mills Ltd 172.75 50.05 +245.15%
Uttam Galva St. 118.65 34.45 +244.41%
Amara Raja Bat. 154.15 45 +242.55%
Deccan Chronic. 150.8 44.15 +241.56%
Engineers India Ltd 1190.05 349.1 +240.89%
India Infoline Ltd 156.05 45.8 +240.72%
Nagarjuna Cons. 177.7 52.3 +239.77%
Zylog Systems Ltd 345.05 102 +238.28%
Escorts Ltd 120.9 35.75 +238.18%
Simplex Projec. 192.8 57.15 +237.35%
Mahindra & Mah. 939.4 279.2 +236.46%
Eicher Motors Ltd 515.85 153.6 +235.83%
JK Tyre & Indu. 155.9 46.6 +234.54%
State Trading . 339.05 102.9 +229.49%
Hinduja Ventur. 382.05 116.65 +227.51%
Dolphin Offsho. 378.05 116.45 +224.64%
Rural Electrif. 211.95 65.6 +223.09%
Triveni Engine. 114.2 35.4 +222.59%
Dish TV India Ltd 45 14 +221.42%
IFB Industries Ltd 62.25 19.5 +219.23%
Tantia Constru. 114.7 36 +218.61%
Surana Industr. 162.25 51 +218.13%
Prakash Indust. 152.9 48.2 +217.21%
TajGVK Hotels . 149.05 47.1 +216.45%
Balrampur Chin. 134.4 42.65 +215.12%
Vardhman Texti. 158.3 50.25 +215.02%
C & C Construc. 249.85 79.6 +213.88%
IVR-Prime Urba. 134.9 43.15 +212.63%
Century Textil. 523.8 167.75 +212.25%
CHI Investments Ltd 50.2 16.1 +211.80%
Vardhman Acryl. 9.8 3.15 +211.11%
Hindustan Zinc Ltd 866.2 278.85 +210.63%
Tata Steel Ltd 566.65 182.45 +210.57%
Vivimed Labs Ltd 129.15 41.8 +208.97%
Natco Pharma Ltd 131.75 42.65 +208.90%
Reliance Indus. 1040 337.8 +207.87%
Patni Computer. 432.45 140.75 +207.24%
Jyoti Structur. 155.65 50.8 +206.39%

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.

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Wishing All your readers a very Happy Diwali

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