The reason, one sector can impact the move of the nifty in a very strong way in either direction.
Synopsis
After the recent phase of the volatility, there has been a bounce back in Nifty and sensex. Along with them there has also been an improvement in the market breadth as more number of stocks were able to inch upward. But this is not enough to say the volatile phase is over. At this point of time, one cannot rule out more profit booking ahead of election results. If one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned and keep a long term perspective. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Toward last week, there was a minor upward movement, one still cannot say whether bulls have made a comeback or it is bears who are just taking a rest. While the final result of this battle would come after the election results as the street looks forward for policy continuity. One thing which as investors one should make sure of is to avoid taking decisions based on what is happening in nifty as there are high chances that nifty and broader
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