Nifty, 47 percent of the poll respondents feel the index is likely to break
If 2018 was to be summarised in just one word, it would be termed ‘eventful’. Even though bears tried to bring down the market, benchmark indices are expected to close the year in positive with single-digit returns.
The momentum is likely to continue in 2019, despite the overhang of general elections, a poll showed.Almost 50 percent of the poll respondents feel that the S&P BSE Sensex is likely to hover in the range of 40,000-45,000, while 43 percent feel it could move in the 35,000-40,000 range, and the rest 7 percent are of the view that the index will hover around 35,000 and may even dip below the same.Similarly, for Nifty, 47 percent of the poll respondents feel the index is likely to break the 12K barrier and surge to new high above 12,500 in 2019, 33 percent are of the view that the range will be around 11,000-12,000, and the rest 20 percent feel that Nifty is likely to hover in 10,500-11,000 range.One big headwind for Indian market in 2019 will be the upcoming Lok Sabha elections which will push investors on the sidelines as volatility will rise. However, investors should use the dips to buy quality stocks.
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