A morning walk down Dalal Street | Nifty may hit 11,080 if index closes decisively above 11,000

Positive services PMI data, rise in rupee boosted the sentiments. The broader markets continued their outperformance for the fourth straight session in a row.

Traction was seen in high beta names as both Small & Midcap indices outperformed the benchmark indices. The S&P BSE Mid-cap index closed 2.01 percent higher while the S&P BSE Small-cap index rose 3.1 percent compared to 1.05 percent rise in Sensex. 

Tecnically, the S&P BSE Sensex closed above its 200-DMA placed around 36,071 while Nifty50 also climbed above its long term average placed at 10,863 which is a positive news for the bulls.