A morning walk down Dalal Street | Strong upswing in broader market suggests the bulls are here to stay

The Nifty closed above its crucial 200-days moving average (DMA) placed at 10865 for the second consecutive day in a row. Supertrend indicator also gave a buy signal on the daily charts.

It is the second when Nifty surpassed the 11K mark during the consolidation phase. Though the follow-up buying has not been witnessed as the overall breadth has been negative for the past few weeks, but a confirmation is required. 

It is a matter of time we shall see the short covering rally as well once we have closed above 11180 marks that would also call in the fresh money in the market that will further propel the momentum, suggest experts.