Good Evening Everyone, As expected and written in the pre-market report, the Nifty did consolidate, and also as usual being a Wednesday, the Nifty was super volatile today and we could continue to see all the sectors moving all the way up and down on a swing continuously till the day closed finally almost flat.
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On the daily chart, Nifty shows that the Bulls are not weak yet, though the bears have taken some control over the day today. Tomorrow is the weekly expiry and also the last trading day of the week, we can see more volatility. Let's see what happens tomorrow.
Since the Nifty was in the mood to consolidate, there was not s single sector that went up by 1 %. In fact, the IT sector continued to see profit booking today, while the Banks were kind of stronger today.
As the Banking sector was up today and the news that Govt appointed Kotak Mahindra capital company as intermediaries of one of the largest IPO launches in India (LIC), the Kotak bank moved up to the top gainer of the day, followed by Powergrid, Grasim, and BPCL as they took support after recent profit booking in the energy sector.
Most of the gainers in the past few days saw profit booking as they came among the top losers section today.