Markets News

Upcoming week can bring momentum shift to pharma & midcap indexes

According to the current market data, the bulls have competed enough to recover all the recent losses with a higher jump.

Apart from this, it is always witnessed how do markets come back in the times of crisis. As per the concern regarding Nifty, the index witnessed a vertical line fall.

It started to get corrected from January 21, 2021 when the index steeply fell down at near 13,600 mark.

Although it found support within the Budget day forming a huge and tall bullish batten.

After this, the Nifty moved on higher and higher levels for the whole week.

Moreover, according to the experts, the market is very likely to enter in a phase where banks will outperform.

Also, upcoming week can bring momentum shift to pharma & midcap indexes. This expectation is coming out according to the data charts that came up in the whole session.

For example, many banks have made their comeback in the positive rally upsurged by the new Union Budget.

All the banks for example SBI and IndusInd especially, governed the headlines for the whole week ended on February 5, 2021.

Also, the Bank Nifty gained more than 15 percent this week.

However, the sectors too participated to the fullest with autos and cement industries. The pharma index too participated in the rally later on.

On an average, this was a retracement or correction period which is indicating towards a consolidation on the leadership index.


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