The market remains in an intermediate uptrend with the sensex, nifty and the Nifty Midcap 100 all in one. The uptrend began on June 24 when the sensex bottomed out at 25,911. As of now, the indices will have to go below their June 24 lows for a downtrend, but those levels will rise to the top of the minor decline that has set in. The levels are 27,900 for the sensex, 7,925 for the nifty, and 12,900 for the Midcap 100.
The US indices have now entered an intermediate uptrend. The FTSE-100, BOVESPA, Shanghai and our market were already in one. The other markets are still in intermediate downtrends.
The Sensex recouped 500 points loss in the last couple of hours of trade, especially after recovery in Europe but still ended sharply lower after the UK voted to leave European Union.
The index fell 604.51 points or 2.24 percent to 26397.71 and the Nifty slipped 181.85 points or 2.20 percent to 8088.60.
About 1823 shares declined against 709 advancing shares on BSE.
Tata Motors cracked 8 percent and Tata Steel fell 6 percent as both companies have huge exposure to Europe.
European markets were down 5-8 percent.
Here are some picks from the week gone by.
This week was very short what with two holidays back to back. We hope you had profitable trading days during the three days that the market was operational.
For this post, we are covering 5 random picks which include positional, short-term and picks from known Masterminds.
We have always lived by the philosophy of helping investors take informed decisions by culling information from various sources.