Nifty Outlook 03-07-2020
The bulls continued to dominate as the benchmark indices registered strong gains for the second consecutive session. The move was led by upbeat global markets which further strengthened with favorable local cues. The Nifty index managed to surpass the critical hurdle of 10,550 levels and ended higher by 1.2%. The broader markets also performed in line with the benchmark as both midcap and smallcap ended higher by 1% each. On the sector front, except banking, all the other indices ended higher wherein Consumer Durables, Auto and IT were the top gainers.
We’re just mirroring the global markets and indications are favor of the prevailing momentum to continue. Since we’re currently seeing rotational buying across the sectors so traders should maintain their focus on stock selection. On the index front, we’re now eyeing 10,700 levels in Nifty.