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A morning walk down Dalal Street | Strong close above record high of 11,761 necessary for Nifty to move higher

The index closed higher for the third straight sessions in a row to close just a shade below 11700 levels. The rupee on Monday declined by 25 paise to close at 69. On the institutional front, FPI were net buyers in Indian markets for 713 crore while DIIs were also net buyers to the tune of Rs 581 crore, provisional data showed. With the quarter passing by relatively unscathed on the macro front, Motilal Oswal expects WPRO’s revenue growth to be in the upper half of this band – at 1. Remember, both TCS and Infosys took hit in their EBIT margin The price action seen on April 15 is not strong enough to push the market higher and for major upside, the index has to register a strong close above its record high of 11,761, experts said.

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