By Puneet Sikka
The markets took the news of the US Federal Reserve announcing that it could soon start tapering and may hike interest rates sometime in 2022 in its stride. Investors believe this news was as per expectations, and there was nothing surprising that came out from Fed's announcement. Secondly, China's property developer Evergrande announcement that it resolved the payment crisis for now, also added to the bullish tone.
The momentum could well take Nifty to 18,000 today, but it will also heighten the worries of markets being overheated. The valuations are already at a 16-year high and with Nifty trading at one-year forward PE of 24.4, the worries are justified. Only time will tell where the markets are headed in future.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Bulls ka sikka jam gaya. Bears are tired fully. something significant can only change it.Like 0
No one can predict and the market cares not for anyone’s opinion! As the overall trend is bullish, just keep buying the dips whenever you can!Like 3
within the timeframe, yes, nifty is overheated and will trap the Bulls some time soonLike 2