The volatility in the market continues to be sharp, and markets tend to confuse most participants with the yo-yo moves during the past couple of sessions. Today’s trade too opened in the red but moved into green soon enough as the bulls started getting an upper hand. The strong PCR at 6000 levels clearly indicates an expectation of the 6000 level being a strong support as of now. The sudden surge of strength in the power and allied stocks like COAL INDIA, TATA POWER, PFC helped elevate the mood in an otherwise dull market. Banking stocks also continued to show some resilience on a selective basis while pharma provided the support to move the NIFTY into green and remain afloat till the session ended on a +ve note.
Markets Sharp and Volatile