Market outlook and Targets for Sensex, Nifty etc. for FY22
Published On: Wednesday, March 31, 2021 | By: Team KnowMyStock
Despite the ups and downs over the past one week, markets are set to register their best financial year performance in a decade. Thus far in FY21, the S&P BSE Sensex and Nifty50 have rallied 66 percent and 69 percent, respectively. Meanwhile, the gains in mid-and small-caps have been sharper with both the indices rallying 111 percent and 89 percent, respectively on the BSE. The rally has been partly on account of strong foreign inflows on the expectation of improvement in the economy after a stringent pandemic-triggered lockdown for a few months in FY21. Accommodative monetary policies of global central banks, especially the US, ensured emerging markets, including India, remained flushed with funds all through the year. During the year, foreign portfolio investors (FPIs) pumped in a record $37 billion (Rs 2.74 trillion) into equities (up to March 26), which is the highest since FY13, data from the National Securities Depository Limited (NSDL) show.
Here are some clues for trading the markets in FY22:
S&P BSE SENSEX
Likely target: 54,000 - 55,100
Upside potential : 8.32% - 10.53%
NIFTY50
Likely target: 16,000 - 16,500
Upside potential: 8.40% - 11.79%
NIFTY BANK
Likely target: 36,000 – 36,850
Upside potential: 7.56% - 10.10%
NIFTY IT
Likely target: 27,500 – 28,000
Upside potential: 6.36% - 8.29%
NIFTY AUTO
Likely target: 10,450 – 10,750
Upside potential: 5.43% - 8.45%
NIFTY FMCG
Likely target: 38,000 – 40,000
Upside potential: 9.51% - 15.27%
NIFTY REALTY
Likely target: 340 – 352
Upside potential: 3.34% - 7.00%
NIFTY METAL
Likely target: 4280 – 4,400
Upside potential: 6.68% - 9.67%
Tags: Market outlook FY 2022
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