Thursday, 28 December 2017



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The outperformance of mid and small cap segment is likely to continue as markets set eyes on earnings and Budget expectations.Equity benchmarks reacted positively to the assembly election results earlier in the month of December which pushed the index to fresh all-time high.

The weekly price action resulted in a strong bull candle that overhauled past six week’s consolidation, signalling culmination of a corrective phase and resumption of an uptrend.

Going forward, we expect the index to head towards 10,600 in coming weeks as it is the 123.6 percent retracement of six weeks correction (10,490-10,033).

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