Monday, 29 May 2017

29th May 2017- OPENING BELL >> Multi Baggers Available At Correction, Market Expected To Rally Further

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Indian market showed huge buying with a follow up rally in Midcaps and Smallcaps. On Friday, Indian Benchmark Index Nifty made fresh all-time highs. It settled at record closing highs as well. The Index closed at 9595 and made a high of 9605.

Bank Nifty gave a huge rally where Index made a new all time high of 23408.

Small Cap Index continued their positive momentum from last Thursday when they returned to action after a corrective phase. The Index recently made a high of 7600 on 11 May and then corrected to the levels of 6900, falling almost 10% from its high. The midcap Index too corrected by almost 7% from its recent high and is gaining momentum since last Thursday.

Nifty Future to open flat at 9578 against Friday’s close of 9576, as per SGX Nifty.

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