Stock Market, Currency and Gold: Where does the money making opportunity lie? ICICI Securities View
ICICI Securities believes that a decisive close above 13200 would open the doors for the next leg of up move towards 13600 in coming months. However, failure to close above 13200 would lead to consolidation in the broad range of 13200-12800 amid positive bias, as weekly stochastic oscillator has approached overbought territory (at 93) after 14% rally seen during November 2020. Hence, any temporary breather from here on should be utilized as an incremental opportunity to accumulate quality stocks.
Nifty midcap and small cap indices are trading above their long term 200 days SMA compared to last two week’s reading of average 86%: Reuters