Nifty Target 6,550
Index composition of Nifty conducive for setting a record high with some of its components exhibiting enormous strength
With strength in IT and FMCG sector, the decline in Nifty has got arrested at 38.2% retracement while broader index like BSE 500 retraced nearly 50%. Hence the composition of Nifty and Sensex turned out to be better in assisting quick recovery and we feel that the stage is set for the key indices to surpass the January 2008 peak very soon.
