Nifty finally closes at 17600 this week, all sectors looking green. What caused today's recovery? Read our take on the matter.
In continuation to last week's bloodbath, Nifty formed a double bottom taking support at 200-day-SMA. Today it bounced back sharply, spreading rejoice among investors.
Today's move mirrored the recovery of equities in the US market. Off-late Indian markets seem to be more coupled to global markets than they usually are, a trend that might persist and continue.
Rebound in the market was majorly driven by banks, financials, and the energy sector, while other sectors also made minor gains.
On the Investmint front- It is celebration time as almost all models closed in green this week!
High-Five, Back Up, Trending Ten, Sector Superstars and Nifty Rider are back in action, having outperformed the index this week.
Quick Short finally broke the streak, but that's the point of systematic trading. One week's performance- be it up or down shouldn't affect your discipline.
To everybody who heads out for the weekend, we have only one message for you.
Take the win.
You never know how today will reflect on the upcoming week. So put down your devices and have a blast. See you back next time!