The index is trading in a strong uptrend with higher top and higher bottom formations intact on all the time frames, Shah said, adding that once the index surpasses the mentioned hurdle, it will see a strong move on the upside toward the 41,000-41,500 zone.
Hot Stocks: Brokerage upgrades Kotak Bank & D-Mart post Q4 results
Following the fourth-quarter results, JPMorgan upgraded Kotak Mahindra Bank and Avenue Supermarts. It maintains a neutral rating on Britannia Industries and an underweight rating on