The choppiness continues!
Nifty ended up 1.15% at 10739.95 on the back of stellar gains in index heavyweight Infy which rose over 9%.
During the day it was up nearly 15% but cooled off at the end of the day and took down IT Index which up over 1000 points or 6% intraday but closed up only 2.83%. All the IT stocks have traced out a shooting star pattern which shows the beginning of a correction.
Among the other sectors, Pharma & consumer stocks also witness some buying. Cipla, Dr. Reddy’s, Nestle, Britannia etc were all up!
Nifty will continue to chop around in the range of 10850 to 10550 for some time as index companies announce their quarterly results.
As long as Nifty remains above 10350, the line of least resistance is up!
Here is the list of Most oversold & overbought stocks as per my Swing Trading System.
Have a profitable day!