Bulls are in full control of the market at the current juncture as Nifty ended its sixth consecutive week with gains. However, the week did witness some profit booking for Bank Nifty on the upper levels. The week broadly witnessed a range bound movement for both the indices but the prices are comfortably placed above … Read more
Nifty ended the week with a closing near its upward-moving channel. The index closed at 23,465, after making a new all-time high on Friday. On the other hand, Bank Nifty is still somewhere in the middle of its upward channel, giving a close at 50,002. The post-election rally has taken everyone by surprise and both … Read more
Bulls returned to Dalal Street with full force on Friday, as the Sensex closed over 1,600 points higher, reaching a new all-time high, while the Nifty 50 advanced over 468 points. Both indices successfully erased all losses from June 4. Nifty50 closed 2.05% or 468.75 points higher on Friday at 23,290 while the 30-component BSE … Read more
Broader markets catalysed the market fall on Tuesday with medium, small and microcap indices treading in deep red around 12:15 pm. The Nifty Midcap 100 index fell by over 7% or 3,700 points around this time to hit the day’s low of 49,623.10. This comes after a meteoric Monday rise after most exit polls gave … Read more
Notwithstanding the minor dip seen in the smallcap index last week, technical indicators suggest buying momentum will continue as the selling was just routine profit booking, says Sudeep Shah of SBI Securities.. “Technically, Nifty Midcap and Nifty Smallcap are in a strong uptrend as they are marking the sequence of higher tops and higher bottoms. … Read more
“I feel that eventual levels that we could see on Nifty would be 17,850, 17,900 in the next few sessions. And just to add to this, Bank Nifty has also started showing a good traction,” says Sudeep Shah, SBI Securities. Let us start with your view on the market. Three, four, five days of gains. … Read more