Stock picks of the day: A rate cut by RBI could help Nifty climb 11,000 in Feb series

We had a nervous start for the week which was in continuation of previous week’s corrective mode. During the first half, there was a bundle of stocks who literally took it on the chin mainly on the back of some negative news flow or poor set of quarterly numbers.

However, the last couple of days of the week turned out to be a savior for our markets as we saw massive rally one day ahead of the Union Budget and on the B-day as well. 

In this process, Nifty eventually closed tad below the 10900 marks by adding nearly a percent to the bulls’ kitty. One of the most keenly watched events, the ‘Union Budget’, is behind us now.

On the day, Nifty once made a valiant attempt to surpass the recent swing high of 10987.45; but as we know, such days are known for their extreme volatility and this is exactly we saw in the latter half. In the midst of this volatility, Nifty became successful in defending some key levels.