Nifty On Course To Hit 10,500 In Couple Of Months, If It Holds Above 10K

Like most global equity markets, Indian markets too have had a great run over, hitting new highs or testing previous highs on the expectation of smart global recovery as well as unprecedented inflows into equity mutual funds.

While everyone agrees India is a great story for the medium to long term and the view has not changed in the medium term regarding growth or political stability, but the disappointment in earnings and a possible disappointment in gross domestic product makes a lot of people nervous.

Higher investment flows both from domestic and foreign investors should provide downside support to the markets.

Valuations too are at peak levels. Our discussions with investors these days are more towards worries about rich valuations, although in many discussions recently, the valuation debate has been ignored altogether.

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