In 2007 Sunil was right in his analysis. Now he says it is very difficult for Nifty to sustain the higher levels. Let us see. Here is what he has written
"The conditions are not right. Nifty index has done +3.1% YTD. Out of 1362 stocks, only 238 have out performed the benchmark Nifty while the remaining 1123 have under performed. So the ratio of out performers to under performers is just 238/1123 or 0.21. Now let us check the Nifty 50 stocks. 15 stocks have out performed the Nifty index while 35 have under performed so the ratio here is 15/35 or 0.43. Out of 35, 31 are actually in the red (well below their January 1, 2013 prices). So given this kinda data I don't think we are gonna make any new highs"