Nifty inches towards 5800; all sectoral indices in green

Bulls have consistently been backing the Indian equity benchmarks since Tuesday of previous week, supported by leading sectors. The Nifty was inching up towards the 5800 level - the Nifty March and April futures were already started trading above that level at 10:45 hours.

Dilip Bhat, Joint MD, Prabhudas Lilladher feels that the market is poised for a breakout. According to him, the Nifty may even touch 6000 to 6200 by June-July. Bhat reasons that the market has already factored in lot of negatives so from hereon any small positive will act as a good trigger for markets to really go up and react very positively.

However, Bhat adds,