Here is why Dabur and Reliance are top technical bets
Bulls have taken control of the Indian equity market, as the Nifty has experienced a consolidation breakout on the daily chart. The rally has been supported by the strength in Reliance, ITC, and IT stocks, said Kunal Shah of LKP Securities
In the weekly wrap, the headline index showed strong buying activity from lower levels, resulting in a 1.6% increase in the Nifty index. However, the Bank Nifty index ended the week relatively flat, with a marginal 0.07% change. The broader markets experienced robust buying, with the Midcap index surging by 2.58% and the Small Cap index rising by 1.13%. Among the sectoral indices, Nifty Pharma emerged as the outperformer, recording a substantial gain of 3.84% for the week. This suggests that the pharmaceutical sector had a particularly strong performance compared to other sectors. Overall, the week witnessed positive momentum in the headline index and broader markets, with the pharmaceutical sector leading the way. Traders and investors should closely monitor these trends in the coming weeks for potential investment opportunities.
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