Will Nifty-IT Outperform Post Elections?
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
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The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
Support for the Nifty is seen at 22,000 and 21,700-800 levels. On the higher side, the immediate resistance for the Nifty is at 22,150-175 levels, followed by 22,300-350. Overall, the coming week should set up the market for a large trending move.
Nifty needs to cross over 22,100 to witness a clear rally towards the all-time high of 22,525, says Rupak De, Senior Technical Analyst, LKP Securities.
The gap between the performance of leading indices and the broader market continued to widen. Global markets experienced divergence throughout the week, with European markets showing strength while the US market closed lower
For the week, both the benchmarks gained 6.5 percent each.