Big growth bazooka boosts sentiment

The Reserve Bank of India's big growth bazooka lifted the Nifty back above the 25,000 mark while Nifty Bank soared to record highs. But it's been three weeks now; Nifty continues to be in the 2% band, or we would say 600 points range with 24600 being the lowest and 25000 on the upside. Barring Tuesday's session, the indices have been trading northwards. We have highlighted in our earlier communication as well that the buy on dips theme is playing out well and it is clearly visible with the kind of accumulation happening at lower levels with focus seems to be more on mid and small cap stocks.