In my previous post on 22nd February 2017, I wrote, “Nifty was trading at 8111 levels and it made a low of 7893 and reversed from there as expected. Since then Nifty is up by almost 10% in last three months. As I have mentioned in my previous post I expect Nifty to perform spectacularly well in next two years. I won’t be surprised if I see Nifty breaching 10600 – 11000 by the end of current year.”
Nifty closed the year 10530 and is currently trading at 11000 levels. If we look at a longer-term chart of index the upside target can be 15000 -18000 over next five years.
Similarly, in the same post I wrote, “The second chart is of Reliance Industries. It is up by approx. 10% today. If we look at the long term chart of Reliance we can see that the stock has broken out of long term consolidation pattern. The first target for reliance is at 1600 Rs. Reliance will eventually breach 2000 and long term target for reliance stays at 2300 INR.”
Reliance Industries was trading at price of 1200 and is up by 60% since then.
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