Positive setup was seen in stocks like IRCTC, Siemens, Zydus Life, Hind Copper, NALCO, Indiabulls Housing Finance, SAIL, Exide Industries, Granules India, BHEL, Bajaj Auto, CUB, IGL, etc. among others.
“Technically, Nifty Midcap and Nifty Smallcap are in a strong uptrend as they are marking the sequence of higher tops and higher bottoms. The uptrend remains intact as long as the sequence of higher tops and higher bottoms is sustained. Also, it is trading above its short and long-term moving averages. The momentum indicators and oscillators are also supporting the overall bullish chart structure,” he says.
India VIX was down by 1.78% from 11.07 to 10.88 levels on Friday. Volatility has been cooling off from the last two sessions and aided in support-based buying in the indices.