MARKET MOVES :
We had a very bullish move for the Nifty on Tuesday, as the markets gained 137 points in a day. Hence, for the rest of this week, we made few bullish moves for our markets including the bullish move on Wednesday. The markets, thus closed at 6047 levels, (1.23 %) above its previous week''s close. Hence, we have now consecutively closed positive for the past three weeks. The market breadth was also positive throughout the week. We had the BSE SMALL CAP, BSE HEALTH CARE & BSE REALTY Indices making strong moves for the last week.
MARKETS AHEAD :
We can observe for the Nifty on the daily charts, that the markets has a strong support at 6000 levels. We can also notice that the markets have consolidated at the 6000 levels very nicely since the past few trading sessions. Also, the markets have gone up this week with average volumes, which indicates that the markets are likely to consolidated for some more time in the short term. Therefore,we can expect our markets to trade in a sideway range between 5900-6100 levels in the short term.
SECTORAL INDICES:
BSE SMALL CAP (12195)
The BSE SMALL CAP Sector has closed at 12195 levels this week, which is (8.65%) above its previous week''s close. We can also notice on the daily charts that we have a strong support at 11500 levels, which is unlikely to be tested in the short term. Hence, we expect this sector to move slightly higher to 12400 levels in the short term. We recommend a buy in City Union Bank and Geojit Financial in this sector.
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