After a sharp gap down & having returned (-2.3%) on 7th March 2022 – Nifty 50 has done extremely well to bounce back from 15670 lows and bring back some smile on the faces of investors despite the pressure around rising inflation , peaking crude prices, Russia Ukraine crisis , etc. All benchmarks gained around (+2.5%) with Smallcaps leading the bounce with (+3.4%). SUGAR stocks have all had a stunning week with most of the stocks gaining in double digits. PHARMA which was weak in the current FY returned about (+6.3%) while usual suspects METALS , IT & REALTY returned around (+3%) in the past week.
Nifty 50 faces an immediate challenge at 16800 resistance levels and what would also be interesting to see is whether Nifty can surge ahead of it’s 200 DMA at 16960. WeekendInvesting strategies all gained well with Smallcap strategies like Mi 25 & Mi 35 leading the charge with around (+4%) gains. The FY numbers still look very good considering the volatility we have seen so far. We hope markets will be kind enough in the last three weeks of the FY and help us close out on a HIGH !
Click on the link below to read to full report.