Sensex, Nifty continue trading with positive momentum; here’s what experts make of today’s trade

1 month ago 16

Sensex, Nifty deed caller all-time highs today.
(Image: REUTERS)

Dalal Street’s bull continued connected Monday greeting arsenic Sensex and Nifty opened astatine caller all-time highs. However, the header indices failed to prolong astatine the highs but managed to adjacent with gains. S&P BSE Sensex closed the time astatine 58,296, gaining 0.29% portion NSE Nifty 50 ended the time astatine 17,377 oregon up by 0.31%. HCL Technologies jumped 2.67% today, followed by Infosys, and Reliance Industries arsenic the apical gainers. IndusInd Bank was down 1.13% arsenic the apical laggard, followed by Kotak Mahindra Bank, ITC, and HDFC Bank. Bank Nifty closed with losses, falling 0.50%. India VIX zoomed 3.92%. Nifty Midcap 50 and Nifty Smallcap 50 were up successful the green. Nifty Next 50 ended successful red.

Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities –

“The marketplace continued its affirmative momentum and mirrored the upmove successful different planetary markets. The Nifty is inactive maintaining a higher bottommost enactment which is broadly positive. However, the markets being successful an overbought concern could trigger a speedy intraday correction if it trades beneath 17330 enactment level. As agelong arsenic the scale is trading supra 17330 the uptrend texture is apt to proceed up to 17450-17500 levels. On the flip side, if Nifty trades beneath 17330, it could trigger an intraday correction up to 17250-17210 levels.”

Rohit Singre, Senior Technical Analyst astatine LKP Securities –

“Index opened a time with a bully spread but showed a range-bound league and closed a time astatine 17378 with gains of fractional a per cent. Index again shifted its enactment to 17300-17200 portion immoderate dip astir mentioned level volition beryllium caller buying accidental and if managed to clasp above-said levels we whitethorn spot the hold successful the existent up determination towards 17500 portion wherever traders tin fastener their gains arsenic 17500 volition enactment arsenic beardown hurdle besides if prolong supra 17500 portion past caller doors volition unfastened for 18k mark.”

Vinod Nair, Head of Research astatine Geojit Financial Services –

“Positive planetary markets and beardown enactment from IT and realty stocks, aided home markets to commercialized modestly higher. Hopes of continued economical enactment by the Fed Reserve owed to anemic US occupation information and talks of much stimulus successful Japan and China boosted planetary markets. Economic normalisation attracted buyers successful realty stocks portion harmless haven IT stocks continued to pb the upbeat market.”

Mohit Nigam, Head – PMS, Hem Securities –

“Nifty IT and Media indices gained much than 1.3% portion Nifty Bank closed successful reddish today. Nifty Realty stocks continued to determination towards grounds high, a broad-based buying was recorded successful the sectoral scale arsenic each scrips were connected a greenish enactment with Prestige Estate surging 16%. IOC and ONGC were among the apical losers successful Nifty 50 today. On the method front, the marketplace is witnessing a continuous affirmative inclination and it has sustained good supra 17,300-350 levels and we judge this up determination volition widen till 17500 level successful the abbreviated term. On the down broadside 17,100 is the contiguous enactment successful Nifty 50 followed by 16,900.”

Gaurav Udani, CEO & Founder, ThincRedBlu Securities –

“Nifty traded successful a tiny scope of 50 points today. The presumption successful Nifty remains bullish with levels of 17450 and 17500 successful the adjacent fewer trading sessions. Nifty closed astatine 17379 up by 55 points. Nifty has enactment successful the 17280 and 17250 range. Traders tin usage buy-on correction with strict halt nonaccomplishment successful the existent markets.” 

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