Stock picks of the day: Here's why you should buy Godrej Consumer and Raymond

The eventful election result week was followed by a head start on May 27 as Nifty once again started its march towards 12,000. During the week, it managed to reclaim the milestone but somehow was unable to sustain above it.

In fact, on May 31, everything looked hunky dory and Nifty was all set to hit fresh record highs. But, suddenly from nowhere, Nifty heavyweights nosedived and in a blink of an eye, the index was nearly 200 points down.

Fortunately, this selling was absorbed by buyers awaiting at lower levels and hence, a recovery thereafter pushed the index above 11,900 to register a highest ever weekly close.

During the week, we clearly witnessed consolidation and this is quite evident as the overall uncertainty is behind us post the favourable election verdict.

In fact, it's a typical characteristic of a market, which never gives easy money when the trade becomes obvious and is known for giving sharper moves when they are least expected.