When will market reach 30,000

When will market reach 30000 levels?

SENSEX closed with a negligible downward movement at 27,238 on 13th Jan, 2017. The question is will it reach 30,000 and if yes, when?

The answer to the first part is 'Obviously, yes'.

But the second is a little tricky. Let's see the trend -

SENSEX monthly trend chart 

SENSEX seems to have formed a bullish trend with rising resistance and support levels. With the same trend to follow, it can be expected to touch 30,000 levels in Nov-Dec this year.

SENSEX weekly trend chart

In the above weekly trend chart, we can see SENSEX forming a reverse head and shoulder trend during the period Oct,15 to Jun,16 after which there was a break through and it showed a bullish trend. The trend again started falling due to two reasons, namely, Long due correction and the news of demonetisation. Currently it does not has a clear visible weekly trend. Any future can only be speculated for, just like we have done in the above figure.

Sensex and Nifty both are clear bull trend, both fundamental and technical factor indicates that we expect good upside move in coming year. When market will reach 30,000 will be difficult to answer but yes on or before 21 Dec 2017 market will definitely market will be trading on its all time high levels.

Rest we need to wait and watch how market reacts to coming fundamentals factor that are going to affect the market.