The broader markets outperformed benchmark indices which suggest that the rally is broad-based.
As many as 21 stocks in BSE500 rose 10-20% last week.
“BSE Sensex and Nifty50 increased by 1.1% each during this week.
“As we head into July expiry substantial gains for heavyweights may be harder to come by, given that recent good news is already priced in.
“The journey onward would require Q1FY22 earnings to be stellar as states gradually lift curbs.
Crossing above the same can show 16200 levels while immediate support comes at 15600 levels,” he said.