The benchmark indices are trading in a narrow range with positive bias as optimism continues after a Narendra Modi-led Bharatiya Janata Party won a majority in the country's elections.
At 11:40 am, the Sensex was up by 125 points at 24,247 mark and the Nifty gained 36 points at 7,239 mark.
The broader markets are outperforming the benchmark indices- The BSE mid-cap index gained 2.18% or 7,935 and the small-cap index was up 3.26% or 257 points at 8,143.
Check out the trading strategies for Nifty, Bank NIfty, Coal India, IT and Midcap stocks to buy with Kunal Bothra, Technical Analyst, LKP Securities
SmartInvestor: Markets have trimmed gains after making a firm start post the elections result. Nifty is hovering around 7,250 mark. What is the short-term trend on the charts?
Kunal Bothra: Short term trend is bullish and in sync with the longer term view. Its been a long time, since such a combination of time frames are both in same direction with such intensity.
Kunal Bothra: We believe that dips should be bought into in the indices.
SmartInvestor: The broader markets are outperforming the benchmark indices. How do you view this space and your top 3 picks?
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