A morning walk down Dalal Street | Bulls can take charge only if Nifty close above 11,300 convincingly

Bulls took control of D-Street from the word go on May 16 thanks to stable cues. The index recovered most of the losses in the previous trading session.

Bulls pushed the index back above 11,250 which is the 100-day exponential moving average (EMA), which is a positive sign. 

For the bulls to completely take charge, the index has to close above 11,300 convincingly, suggest experts.

Among sectors the S&P BSE Oil & Gas rose 1.5 percent, followed by the S&P BSE realty that gained 1.3 percent, and the S&P BSE Power that was up 1.3 percent. 

Volatility cooled down slightly but it is still near 4-year high. India VIX fell down 1.01 percent at 28.37. However higher VIX suggests that volatile swings could continue in the market ahead of the election outcome.