Just a matter of around 100 points and NIfty will reach its previous highs. Market experts believe going by the current momentum, Nifty could gradually keep rising if the results of the under performing sectors is favorable. "New high for the Nifty is barely 5% away. Though this seems very much achievable, the so far under performing sectors like Oil & Gas, PSU, Capital Goods etc will have to start performing for the Nifty to reach the previous high. A lot will depend on the results from these sectors and the management commentaries from the companies in these sectors," says Deepak Jasani of HDFC Securities.

                                 

Jasani shared his top picked large cap companies that could give decent returns over the next few quarters Aurobindo Pharma, Axis Bank, Maruti Suzuki, Ultratech Cement and SRF.

Engineers India, Petronet LNG, AdaniPorts & Special Economic Zone, Deccan Cement and City Union Bank are some of HDFC Securities hot stocks to invest in medium term of three to six months.

The market movement also depends on US Presidential Elections. If the process of elections is smooth, we may witness a small rally post the results. Jasani adds At that time, Nifty has a fair chance of reaching the previous high. However mind well, post this rally an across the board unwinding/profit taking seems likely ahead of the calendar year end.

If all goes well, the US Elections could be an opportunity for the buyers of right stocks to gain in the near term period. US Presidential Elections will be held on November 3.