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Chase any Nifty bounce with caution now; Metals, Pharma, FMCG look better placed SECTIONS Chase any Nifty bounce with caution now; Metals, Pharma, FMCG look better placedBy Milan Vaishnav, CMT, MSTA, ET CONTRIBUTORS Last Updated: May 22, 2021, 12:27 PM IST Share Synopsis The headline index closed with net gains of 497 points (+3.39%) on a weekly basis to finish on a broadly strong note. Getty Images Nifty PSE Index has slipped inside the weakening quadrant. Despite intermittent hiccups, the week gone by turned out to be much better than expected for the Indian market. Nifty not only averted the bearish consequences for the violating the Rising Trend Line, but also went on to end the week with decent gains. Compared with the previous week, this time Nifty traded in a wider range, oscillating in a 465-point band, mostly with a bullish bias. In between, it saw two days of consolidation and throwback.

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