Bull run continues: All-time Nifty high is not far away

The bull run continues and it seems to have regained some momentum. The Nifty has made steady gains through the settlement and it has hit successive highs for 2017. The index is testing resistances in the 8,950 region now. Assuming that it continues to run up, the all-time high of 9,120 is not far away. 

One key factor is that Foreign Portfolio Investors (FPIs) have been net positive since the Budget and through all of February, which has coincided with positive attitudes from domestic institutions. The Q3 results have also been much better than very low expectations.  

The trends