The NSE Nifty mange to maintain its uptrend for the fifth consecutive session and closed above the 5,000 mark for the first time since May 22, 2008 i.e. at 16-month high. The mark 5000 was a big resistance for Nifty. The benchmark indices gained over 4% in five days.
Buying in financial, technology, power, pharma, auto and oil marketing companies’ shares helped the markets to stay on the higher side throughout the session. Over 0.9% gain in European markets and 0.6% upside in US index futures were also supportive to the indices.
Now market is at the stage where some downtrend may be seen. But any how good quarterly results are expected from Indian companies.
EquityPandit.com would suggest staying invested and book profits in small-small quantities till market is in uptrend. Those who are yet not invested, stay away for some time.
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