'New high for Nifty50 on the cards; buy Tata Steel and Alembic Pharma'

Stock calls and market outlook by Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd.

Friday’s session was almost a replica of the previous day; however, the only difference was, we fell from higher levels in the latter half on Thursday and on Friday, we recovered after correcting in the first half. Overall, the bias remained neutral as we are experiencing some indecision with index per se. However, the stock-specific action still continues in the market as we saw good participation from the broader end of the spectrum. Eventually, the truncated week post Diwali festival concluded with handsome gains over a couple of per cent. 

Nifty was struggling to surpass the sturdy wall of 11,650 –