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Low inflation data sparked a rally based on assumption that RBI may cut rate this time. Nifty is now above the resistance level of 9800 and a few good corporate earnings will make it reach in five figures.
If Nifty sustains above 9800, it may rise to 10,000 in near term. Long term target is 10500. If Nifty falls below 9450, the up-trend will be reversed in short term. For the long term up trend to reverse, Nifty has to fall below 9200.
Investors should stay invested with a cautious view. They should avoid small caps and focus on large caps, diversified, and balanced funds.
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