A morning walk down Dalal Street | Nifty likely to see gap up opening, rally towards 11,500

It was a volatile week for Indian markets but bulls ultimately managed to take control. But, rest assured, this week could see wild gyrations as markets will react to Exit Polls on Monday, as well as Election Poll results on Mat 23rd.

Both Sensex, and Nifty climb over 1% for the week ended May 17 but broader market underperformer. Most experts feel that if we get a favourable outcome in the poll results there could be a possibility that attention could shift to midcaps stocks. 

In the week gone by, the Nifty50 reclaimed 11400 levels on a closing basis while the S&P BSE Sensex had a touch and go moment with 38,000.

Most experts suggest that the move could be largely led by short-covering. 

Investors’ wealth in terms of market capitalisation on the BSE rose by 1.4 lakh crore in a single session. The average market capitalisation of the BSE listed companies rose to Rs 146.59 lakh crore on May 17 compared to Rs 145.22 lakh crore recorded on Wednesday on the BSE.