No mountain too high: A steady ascent likely to sustain for Nifty

Trend reversal could be called only if index falls below 17K; trend followers can continue with bullish bets on Private Bank, FMCG indices

The Indian stock market is trading close to its record highs, with the Nifty scaling Mt 18,887 on December 1. A look at the technical variables and some of the statistical data at this point in time may provide insight into the potential trajectory of the index.

Since January 2022, the Nifty has gained a nominal 3.6 per cent and 30 per cent in two years (since January 1, 2021). It has lost around 0.7 per cent in 30 days. The index has been trending up since mid-June 2022. Since then, it has gained nearly 20 per cent. If one