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That said, only concern in the sight remains the high Nifty premium and historically speaking, Nifty wasn’t able to perform at such high premium.

In the week gone by, the Nifty ended above the 18500 mark for the first time ever, as it gained over 1 per cent and formed a Bullish Outside Candle. On a weekly basis, Midcap and small cap indices gained more than 2 per cent each as midcap names from banking and technology took the front seat. Going ahead, we expect the Nifty to remain positive amid prevailing risk on sentiments and gradually moving higher towards 18750 levels.

Interestingly, India VIX has declined sharply last week and closed the week at its lowest levels in more than a year. It continues to be at comfortable levels for the bulls’ camp as it is hovering well below the 20 levels, suggesting prevailing comfort in the market despite trading near life highs. That said, only concern in the sight remains the high Nifty premium and historically speaking, Nifty wasn’t able to perform at such high premium.