Stock picks of the day: IT index showing signs of strength; TCS top buy
Episode 1260, May 31, 2019, 02:00 AM
The market witnessed its first fall post the verdict of the election on Wednesday, but we saw smart gains on Thursday. However, nothing changes structurally for the indices as the trend continues to remain solid.
Going forward, the election’s verdict day is an important reference point. The Nifty is likely to realize a direction only if the 12041 all-time high mark or the low of 11640 are broken on a closing basis.
Till then, the market will continue to oscillate in a 400 points trading range.
The Nifty Midcap-100 index witnessed a Golden Crossover on the daily chart an event that indicates that the broader indices are going to play catch up in the coming weeks.