WEEKLY UPDATE OF STOCKS

Technical View Nifty forms bullish candle, ends at record closing high The bulls regained their pace  after swinging higher and dipping to near closing levels before recovering - all in the morning; and then extending gains sharply as the day progressed on May 24.The Nifty50 opened higher at 11,748 and immediately started wiping out early gains to hit a day's low of 11,658.10, but showed recovery in the morning itself and extended gains gradually to touch an intraday high of 11,859 in late trade. The index closed 187.10 points higher at 11,844.This could be a short covering after the index fell from its historic high on May 23, the day of the Lok Sabha election results.The index ended at record closing high and formed bullish candle on daily as well as weekly charts. For the week, the Nifty rallied 3.8 percent.After recovery from the day low on short covering indicated that the market may remain rangebound in coming sessions, an upside is possible only in case the index crosses its previous record high, experts said.Bulls retained their mojo as the Nifty50 strongly recoiled from the intraday lows of 11,658 levels before signing off the session with a decent bullish candle formation. However, May 24th’s price action is appearing to be more like an upward reaction to the big fall witnessed on May 23 from the highs of 12,043 Buzzing stock JMC Projects gains 11% after securing new orders worth Rs 616 crore Indices end at record closing highs onModi win hangover; Sensex up 623 pts Sugar shares rally; Mawana Sugars, Avadh Sugar zoom up to 20%PSU banks extend gain; Bank of Baroda surges 21% in a weekKEI Industries nears record high; surges 25% in a week on strong Q4 resultsICICI Bank, Titan Company, L&T among top 5 wealth-creating ideas for next 5 yearsIt is a good time for investors looking to start their fresh journey in the market along with the new government at the center, Siddhartha Khemka of MOSL. Ashok Leyland Q4 profit falls 12%  to Rs 653cr, margin touches 11% again Golden Cross .