Nifty, Sensex surge 2% on strong global cues as bulls return to D-St; ‘market trend bullish, buy on dips’
时间:2024-06-17 14:20:51 阅读(143)
Bulls fuelled pullback rally on Tuesday as Indian equity markets reversed the previous session’s losses to gain over 2 per cent on the back of positive global cues. Frontline indices witnessed a massive buying interest today as Sensex zoomed nearly 1300 points and Nifty 50 settled above 17250. The BSE Sensex closed 2.25 per cent higher at 58,065, while Nifty50 ended 2.29 per cent up at 17,274. “Nifty smartly broke out upwards after sideways consolidation. It will now face resistance in the 17291-17401 band while 17176-17196 band will offer support in the near term,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
S Ranganathan, Head of Research at LKP securities
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
“On the backdrop of strong global cues, the benchmark indices bounce back sharply. Technically, after a sharp intraday correction, the index bounce back sharply. Post gap up opening, indices held the level of 17100/57500 and managed to close above the same. They also formed higher bottom formation on intraday charts which indicates continuation of uptrend in the near future. The short-term market structure is positive but due to temporary overbought condition, we could see range-bound activity in the near future. For the traders now, 17200-17150/57800-57600 would be the key support zone whereas 17400-17425/58300-58400 would act as an important resistance zone for the index.”
Palak Kothari, Senior Technical Analyst, Choice Broking
“On the technical front, the Nifty has been trading with the support of above 89-DMA as well as given closing above 200 DMA which points out bullish momentum in the counter. Furthermore, the Nifty has given a breakout of rectangle pattern on an hourly chart which suggests strength for the upside. The support for nifty has shifted around 17000 levels while on the upside 17400 levels may act as an immediate hurdle crossing above the same can open the gate for 17500-17650 levels. On the other hand, Bank nifty has support at 38500 levels while resistance at 39800 levels. Overall, the Nifty has closed above the 17200 level and looking bullish for the upcoming session. Every dip should be considered as buying opportunity.”
(The recommendations in this story are by the respective research analysts and brokerage firms. FinancialExpress.com does not bear any responsibility for their investment advice. Capital markets investments are subject to rules and regulations. Please consult your investment advisor before investing.)
猜你喜欢
- Share Market Highlights- Nifty settles below 19000, Sensex below 63600; Bank Nifty sheds over 140 points
- Tata Communications shares down 23% so far in 2022; should you buy, hold or sell- Here’s what analysts say
- Share Market Highlights- Nifty settles above 18300, Sensex jumps 230 pts; Bank Nifty below 43900, Adani Ent jumps nearly 20%
- Nifty opens above 17100, Sensex surges 350 pts on Fri, Mar 17; Adani Group stocks rise, TCS shares fall
- Share Market Highlight- Markets close higher! Nifty trades above 21,650, Sensex near 71,700; Oli & Gas and Consumer Durables stocks gain
- Share Market Highlights- Nifty, Sensex end flat, NSE index settles above 18250; Bank Nifty below 43200, UPL, ITC fall
- Strategies for excelling in Boards and JEE simultaneously
- Nifty to hit 17500 in August, support at 16700, Bank Nifty to remain positive; Buy Reliance, SBI, TCS stocks
- Nifty to break losing streak or give up 18,100- Check US stocks, Asian markets, FII activity, SGX Nifty, more