Morning view on the market by Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Nifty has now moved up by 10% from the March lows and the present bullish market structure can take the Nifty to the all-time high of 18887. Strength and optimism on the economic front in the mother market US provide the global backdrop for the bulls. Domestically, the important cue to watch would be the RBI commentary today since the rate decision will be a pause. If the RBI commentary marginally increases the FY24 GDP growth rate and decreases the FY 24 inflation target, that would be a shot in the arm for the bulls enabling them to take Nifty to new records. If the Nifty moves to new record highs, Bank Nifty and RIL will have to participate in the rally. Mid and small-caps will continue to do well. Even though Nifty moving to new highs is possible, a sharp rally beyond that is unlikely since valuations will get stretched at record levels.