Hot Stocks | Here's why ONGC, Bharti Airtel are a buy for short term
Episode 2471, May 04, 2020, 01:30 AM
During the last week of March, our market somehow managed to stabilise and then saw some decent recovery thereafter.
Until April 28, Nifty had been struggling to surpass 9,400 mark, but due to strong buying momentum in the last couple of sessions, Nifty finally broke out and went on to close convincingly above 9,800-mark.
March was one of the worst months for our market, but fortunately, this was followed by a stupendous April during which, we managed to recoup 50 percent of the damage done in March.
It was a broad-based rally and some of the laggards like financials and auto contributed heavily, which provided credence to the move.
Looking at the overall setup, Nifty is very much poised for an extended move towards 10,200-10,400, which would be seen as a strong hurdle for the market.