Vibhav Kapoor, IL&FS has expressed his views on Nifty and his opinion on the index and state of market is as appended below:
I think overall the market has gone into a bull phase after it crossed the 5,200 mark. The strength of the rally, the breadth and the fact that so much liquidity is coming in point towards this factor. The market seems to be of course looking forward to a lot of things and seems to be of the view that things have bottomed. For example, in terms of earnings downgrades, interest rates have topped out and there is a little more stability in the global markets and the global economy. So going forward, the way the bull run progresses or the market progresses, is going to depend on all these factors. Oil is going to be another very important factor. But till any of these factors turn negative, one has to assume that the market is headed upwards in the medium-term.