The benchmark index - Nifty 50 will hit new all-time highs of 26,000-26,500 within the next 4-5 months, according to Gaurav Bhandari, CEO, Monarch Networth Capital. Bhandari expects a potential reversal in global macroeconomic conditions setting the stage for a recovery and also expects easing bond yields, dollar weakness and renewed global capital flows to support Indian equities.
Bhandari expects these developments to improve global risk appetite and encourage investors to shift money towards equities. A combination of foreign institutional investor (FII) short covering and continued domestic investment could provide additional support to Indian stocks and help valuations recover. However, the projected target depends on these global factors turning favourable and investor sentiment improving.
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