Nifty 50: Last week was a period of ups and downs in the stock market. The Nifty 50 managed to breach the resistance of 23,300 during this period. Now the new resistance is 23,500. Experts believe that the next budget will be developmental. Experts say it could reach Rs 24,200 due to pre-budget hike. At the same time, Nifty may reach 25,000 by Diwali 2024. Let us tell you that experts who monitor the Nifty-50 believe that the Nifty-50 may reach 30,000 by the end of 2025.
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What could be the cause of the rise?
Avinash, associated with brokerage firm Profitmart Securities, says the Interim Budget 2024 could prove to be a boon for the Indian stock market. The market has high expectations from the Modi 3.0 budget. After this, the big event for the market will be 2024. Taking all the circumstances into consideration, it seems that the market has seen a rise of 8 to 10 percent. Even under bad circumstances the market can give such a return.
Avinash says the Nifty 50 could be a sell-off ahead of the pre-budget. It may come down to 23,000. Or it could come down to even lower than that. It may take time for the market to grow. Avinash says realty, auto, capital goods and banking segments could prove to be good choices for investors.
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Nifty-50 may touch 30,000
Sumit Bagdia, associated with Choice Broking, says that the Nifty-50 index may touch the 30,000 level. Sumit Bagdia says the Nifty 50 could rise from 166 points to 1800 points by the end of this year. This index may touch the level of 27,500 to 28,000 by the end of 2025.