Dalal Street Week Ahead: Don’t take a breakout for granted; stick to steady stocks and sectors
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Dalal Street Week Ahead: Don’t take a breakout for granted; stick to steady stocks and sectorsBy
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The week saw Nifty move in a trading range of 317 points, oscillating in a zone that was similar to the trading ranges seen over the past few weeks. Broadly speaking, the index spent the week consolidating as it awaited a clean and clear breakout.
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The Nifty Realty Index has seen a strong rotation inside the improving quadrant hinting at a likely end to its relative underperformance against the broader market.
Quick Wrap: Nifty Pharma Index rises 0 93%
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Nifty50, Sensex close at record highs led by private bank, consumer stocks
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: Saturday, June 5, 2021, 10:18 AM IST
Indices close at record high amid falling COVID cases; Nifty likely to touch 16,000-levels next week
The bulls were driving the market throughout the week as we were witnessing daily new record highs in the Nifty 50. However, on Friday (June 4) trading session, the benchmark index turned volatile after the Reserve Bank of India (RBI) decided to keep the policy rate unchanged and closed slightly lower at 15,669.25 levels with a loss of 21 points while Bank Nifty settled around 35291.65 levels with almost 1 percent loss in a day. Overall, it was profitable weekly as the Nifty index gained more than 1.3 percent on a weekly basis and also made a new record high at 15,733.60 levels on the last trading session of the week.