ICICI Bank, Seimens, YES Bank, Dabur to take centre stage today
The Nifty has formed a Bullish Engulfing pattern on Tuesday, which was followed by a strong momentum in Tuesday's session
Bull market or bear market?
The bullish momentum is expected to continue in today's session too. On the upside, we may see 10840–10900 level.
Stocks likely to be in limelight today?
Stocks like ICICI Bank, Siemens, YES Bank, Manappuram, OFSS and Dabur are likely to do well in coming days.
Sectors likely to impact market today?
We may see a continuation in the ongoing bullish momentum in Financial Services, Auto and FMCG sector in the next few sessions.
Your mid-term view?
The Nifty has formed a Bullish Engulfing pattern on Tuesday, which was followed by a strong momentum in Tuesday's session. This type of broad-based rally, after a negative news, is a good sign for the market. We are expecting a further rally in the Nifty towards 10950–11000 level in near-term.
What drove markets on Wednesday?
Our market found the direction after the end of uncertainties over election results. Also, the appointment of new RBI governor and decent rally in Asian bourses fuelled the momentum.
Jay Purohit, technical and derivatives analyst, Centrum Broking