I am expecting a quick move past 30,000 when the market opens on Monday. The correction on Friday was too rapid and I am expecting a pullback which should break through the 30k level. And if this does hold true we are in for a massive up move on the SENSEX as I believe "animal spirits" will take over past the psychologically critical 30k level.
To give you some context, the last time the SENSEX touched (briefly broke) the 30k level was in March 2015. The current bull run definitely has more steam (based on economic reforms that are in progress/or have been announced), but we will have to see how it survives the earnings season coming up.
The best way to play this would be to go long OTM calls.
To give you some context, the last time the SENSEX touched (briefly broke) the 30k level was in March 2015. The current bull run definitely has more steam (based on economic reforms that are in progress/or have been announced), but we will have to see how it survives the earnings season coming up.
The best way to play this would be to go long OTM calls.