The market will get a direction once we get a range breakout. However, three stocks have formed a good setup on the technical charts and can give returns in the short term.
Nifty recovered from the days low and two session setback to trade with 160 points lead at 21,399.35 on Wednesday aided by recovery in bank, IT and FMCG stocks.
On Tuesday, the Nifty Pharma index emerged as the leading sectoral performer, showcasing a remarkable surge of over 2%, significantly outpacing the broader indices.
The Nifty future closed negative with losses of 0.37% at 21861 levels on Friday. India VIX was down by 4.21% from 15.14 to 14.50 levels. Volatility cooled off after steaming to higher zones and respected the bulls at higher zones.