With the Sensex and Nifty hitting new 52-week highs on 28 May, the bullish fervour in the market is increasing . “Technical charts are still looking bullish and Nifty is heading to 16,400 in 2-3 months,” says Mehul Kothari, AVP -Technical Research, Anand Rathi. Very short-term players need to be wary. “The FIIs’ long – short ratio is now around 88%, almost a 5-year high. There may be a healthy correction before achieving new targets,” says Kothari.
Mid- and small-cap segments have outperformed in the past three months.