Stock Market: Nifty can make a new record, this is just one condition, CLSA's estimate:

News Topical, Digital Desk : The trend of growth in the stock market continues and today Nifty has shown strength above the level of 25 thousand. During the session, Nifty has also reached above the level of 25050. However, based on the performance on the chart, experts believe that the Nifty 50 index can cross the level of 26 thousand in the coming time and reach new record levels. CLSA Global Analyst Laurence Balanco said that if Nifty 50 maintains the level of 24 thousand strongly in the coming time, then the index can also reach new record levels by the end of the year.

What did the expert say?

Talking to CNBC TV18, Balanco has given a positive forecast about the domestic market and said that many sectors are preparing to break out of their trading range. He said that he is hoping that if Nifty maintains the level of 24 thousand, then by the end of the year Nifty can reach its new record level and can also see the level of 26300. According to him, 24000 is an important support zone for Nifty and is also the upper level of consolidation between February and April. Seeing the signs of the domestic economy strong for the long term, the market can show a new round of growth above this level.

What is the long-term forecast? Balanco had said earlier this year that for the long term, Nifty is expected to reach the range of 37000 to 42000. He said that this long-term forecast of Nifty still remains.

How was today's market? The most important thing about Wednesday's market is Nifty 50 staying above the level of 25 thousand. In the last session, the market made several unsuccessful attempts to stop above this level, but on Wednesday the index is showing strength above these levels. However, Nifty is not getting the support of the bank index. The Bank Nifty index is trading with a decline of more than 150 points.