It last crossed the 9,000 mark in March 2015

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canada goose coats Speaking to CNBC TV18, Balanco said this breakout would be driven by the Nifty Bank. He did not give a timeline for the record highs but said the bull run would continue at least till July and said that CLSA had set a target of 10,350 for the index once new highs are achieved.On February 23, the Nifty hit a fresh 52 week high of 8970.05 for the first time since September 2016, and closed just short of the 8,900 mark on Friday. It last crossed the 9,000 mark in March 2015.Balanco said the markets would pause in the coming weeks but it would only be a short term hesitation and the broader uptrend should remain as price action is on the cusp of breaking out.He said that December lows will be held and as long they do, the positive trend will continue.Below is the verbatim transcript of ’s interview to Latha Venkatesh Sonia Shenoy.Sonia: I wanted your view on what the near term could look like for the Indian market considering that we have hit a new 52 week high but around these levels of 8,900 to 9,000, we have seen a lot of resistance in the past as well?A: We have seen the market now moving towards resistance provided by 2015 and 2016 highs that we saw in September and March respectively that plus the momentum indicators that we are looking on daily basis overbought and if we put that into perspective to what the global scenario that we have seen, some accelerated gains is that in a very short term we will see the market pause and hesitate at this point but it’s only a short term hesitation rather than a major reversal canada goose coats.

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