The week ahead : The uptrend may continue.

Although the past week started off in a lacklustre way, the indices gained momentum in the later part of the week and managed to end on a positive note at 34142 and 10491. IT and banking sectors made strong moves resulting in the indices not moving downwards.

Going ahead, the major focus will be on the words of the new fed chairman jay Powell. The other major events to be watched include February auto sales data, crude oil prices, Rupee movement against the dollar, US GSP and job data.

As far stock picking is concerned, in our opinion, investments should be made in large caps rather than small or mid cap stocks because most of the stocks in this space have already witnessed carnage last month breaching major support levels.

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