“We expect broader market to relatively outperform wherein small cap would outshine. The Nifty Smallcap250 index has given a breakout from 20-month consolidation. Pattern implication suggest another 20-25% rally over next 12–15 month period,” it added.

Analysts at Prabhudas Lilladher have given targets of 19,200-19,250 levels for Nifty, with most of the frontline heavyweight stocks getting into momentum improving their bias. “Nifty finally has created history by touching the 19,000 landmark making the all-time high level with bias and sentiment maintained strong. Now with near-term support of 18,800 zone, one can anticipate for next targets of 19,200-19,250 levels with most of the frontline heavyweight stocks getting into momentum and improving their bias. The support for the day is seen at 18,850 levels while the resistance is seen at 19,150 levels,” says Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher.

As equity markets hit record high, V.K. Vijayakumar, chief investment strategist at Geojit Financial Services, has suggested long term and short term investment strategy for investors. “Investors should remain invested in the market. Long-term investors can continue with their systematic investments. Since valuations are rich from the short-term perspective some profit booking can be considered by investors who do not have a long-term time horizon. High quality financials are even now trading at fair valuations,” he said.

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