The indices made a smart recovery today to close the week on a joyful note. On a closing basis, Nifty rose 0.40% or 47 points to close at 11643. This came in the back of weak to flat opening in the region of 11600 However, the possibility of continued choppiness is not repealed as yet although the bottom of 11550 seems credible and if it is not broken in near future, we may well expect to see new life high in Nifty sooner than later.
All sectoral indices closed in green today with Media & FMCG stocks being biggest gainers. Among the later, we pick Marico as a potential buying candidate for the month of April. ITC also gave a nice breakout today & it closed at its highest level since October 2018. This stock has underperformed the market for quite a long time and this cycle could well be reversed if it stays above 290 in near future.
