After witnessing a rather smooth ride in the week gone by, investors should brace for some volatility around the Karnataka election verdict. The Nifty rose about 1.7 percent for the week-ended May 11 and managed to close above 10,800 levels. But the move was largely led by index heavyweights, despite the market breadth remaining negative.
It was a terrible week for so many counters, especially those from the midcap universe that have been hammered brutally during last week. The only positive from last week trade was the Nifty’s close above 10,800 levels, ahead of the Karnataka election verdict, which suggests a favourable election outcome for markets.
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