ET CONTRIBUTORSThe week after the festival season saw a huge gap-up start on the back of positive global clues. This shows that optimism has reached its peak, at least from an intermediate point of view. Yet, the stock could not sustain at higher levels. This process may continue as Nifty has formed an intermediate top and is likely to witness a correction in the frontline stocks. In addition to this, investors can look to accumulate quality IT and pharma names at current levels.Nifty50 closed the week 0.62% higher at 12,859.

Source: Economic Times November 21, 2020 04:24 UTC