After a two-week consolidation phase, the market broke out on Friday, gaining over 1%. The strong performance of IT heavyweights set the tone for a robust start, leading to increased buying across various sectors. As a result, the Nifty index closed near the day's peak at 21,894 marking a 1.14% increase. Besides the IT sector, realty and PSU stocks also experienced notable gains, while auto and pharma sectors showed subdued trading. Although broader indices lagged behind the benchmark, they still managed to finish with modest gains. Our attention is now on the 22,150 level in the Nifty, but potential restraint from banking sectors could limit the momentum. We recommend focusing on key sectors and utilizing any pauses or dips to accumulate high-quality stocks. It's essential to note that volatility is expected to persist due to earnings reports and mixed global cues, so plan overnight trades accordingly.
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