Last few years if you see the rally was supported by both earnings growth as well as the expansion in the PE ratio for the overall market. Last few years, three years, the EPS CAGR for Nifty 50 has been 24-25%, so that was the key trigger for the market rally.
Tech View: Minor pullback rally likely in Nifty, crucial resistance at 24,750. How to trade on Monday
Tejas Shah, Technical Research Analyst at JM Financial & BlinkX, noted that Nifty has support at 24,100 and 24,000, with immediate resistance at 24,450-500 and