In Finance literature, the returns from pre-defined rules of making investments in equity have been an interesting topic for research. Several researchers have proved abnormal returns can be earned by implementing such trading rules. Returns from different trading rules have been an important part of the study of finance literature. Although The EMH( Efficient Market Hypothesis ) neglects any unusual returns from trading strategies which are based on the past information related to stock prices and financials, many researchers have proved otherwise and shown abnormal returns by implementing simple trading rules. In this study, a study has been done on the returns of momentum strategy during recent revival of the Indian equity market. The main finding is that the returns from momentum strategy has been significantly different from the overall market returns.