Resistances were overcome as the bullish enthusiasm continues to face lot of hesitation and has failed to steer clear of the trend and forge ahead. However, the sustained bullish action despite some periodic shakeup has instilled greater confidence in the market.
The Indian equity markets witnessed a highly volatile yet resilient week, with benchmark indices recovering strongly after facing intermittent bouts of selling pressure. While concerns over elevated crude oil prices, global uncertainties, and mixed earnings kept traders on edge, the latter part of the week saw a notable resurgence in buying interest that enabled the Nifty to reclaim the psychologically important 23,000 mark.
The Nifty 50 closed at 23,053.10, while the Sensex settled at 74,459.53, ending the week on a firm footing.
ATHERENERG: Buy above ₹1760, stop ₹1650 target ₹1995 (Multiday)
PPLPHARMA: Buy above ₹240, stop ₹229 target ₹265 (Multiday)