Sit tight as Nifty50 likely to hit 13,000 levels ahead of Budget 2020

A) Indian market is in strong bullish momentum and this momentum is likely to continue where Nifty is likely to touch 13,000 kinds of level very soon and that could happen before the Budget itself.

In the near-term, 12350-12500 are the immediate target levels while on the downside 12,150-12,050 levels will act as a strong base where buy on dip texture will continue in the future.

If we talk about the last days of 2019 then we may see some consolidation in the headline index with some positive bias as foreign fund flow may remain muted amid holiday mood while broader market outperformance can be seen in the last week of 2019.

A) The current bull run in the market is the most hated one because only a few stocks are driving the current rally.

The market has become very narrow where most of the money moved into top-quality stocks especially the leader of a particular sector because despite the slowdown in the economy these top 10-15 stocks manage to continue with their strong earnings.

We are not bothered about this kind of move in the market because money was chasing stocks where earning was visible and it will also move to a broader market once the growth cycle will reverse in the economy where the market is sensing that worst is behind us in terms of slowdown worries.

A) Yes, we can say that the Santa rally has already begun in the market and it is likely to continue in 2020 as well.

The Santa rally which was started with large caps may get an extension in the broader market also in upcoming days where some signs of outperformance by the broader market were visible in Friday's trading session.

A) Reliance Industries, HDFC Bank, SBI, HDFC, L&T, and Maruti Suzuki India may help Nifty and Sensex to continue their bull run, and any dip in these stocks would be a good buying opportunity.