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

Sensex, Nifty hit recent all-time highs at this time.
(Picture: REUTERS)

Dalal Road’s bull continued on Monday morning as Sensex and Nifty opened at recent all-time highs. Nevertheless, the headline indices did not maintain on the highs however managed to shut with beneficial properties. S&P BSE Sensex closed the day at 58,296, gaining 0.29% whereas NSE Nifty 50 ended the day at 17,377 or up by 0.31%. HCL Technologies jumped 2.67% at this time, adopted by Infosys, and Reliance Industries as the highest gainers. IndusInd Bank was down 1.13% as the highest laggard, adopted by Kotak Mahindra Bank, ITC, and HDFC Bank. Financial institution Nifty closed with losses, falling 0.50%. India VIX zoomed 3.92%. Nifty Midcap 50 and Nifty Smallcap 50 have been up within the inexperienced. Nifty Next 50 led to pink.

Shrikant Chouhan, Government Vice President, Fairness Technical Analysis, Kotak Securities –

“The market continued its optimistic momentum and mirrored the upmove in different international markets. The Nifty continues to be sustaining a better backside formation which is broadly optimistic. Nevertheless, the markets being in an overbought scenario might set off a fast intraday correction if it trades under 17330 help stage. So long as the index is buying and selling above 17330 the uptrend texture is more likely to proceed as much as 17450-17500 ranges. On the flip aspect, if Nifty trades under 17330, it might set off an intraday correction as much as 17250-17210 ranges.”

Rohit Singre, Senior Technical Analyst at LKP Securities –

“Index opened a day with a very good hole however confirmed a range-bound session and closed a day at 17378 with beneficial properties of half a per cent. Index once more shifted its help to 17300-17200 zone any dip round talked about stage might be recent shopping for alternative and if managed to carry above-said ranges we might even see the extension within the present up transfer in direction of 17500 zone the place merchants can lock their beneficial properties as 17500 will act as sturdy hurdle additionally if maintain above 17500 zone then recent doorways will open for 18k mark.”

Vinod Nair, Head of Analysis at Geojit Financial Services –

“Optimistic international markets and robust help from IT and realty shares, aided home markets to commerce modestly increased. Hopes of continued financial help by the Fed Reserve resulting from weak US job knowledge and talks of extra stimulus in Japan and China boosted international markets. Financial normalisation attracted consumers in realty shares whereas secure haven IT shares continued to steer the upbeat market.”

Mohit Nigam, Head – PMS, Hem Securities –

“Nifty IT and Media indices gained greater than 1.3% whereas Nifty Bank closed in pink at this time. Nifty Realty shares continued to maneuver in direction of report excessive, a broad-based shopping for was recorded within the sectoral index as all scrips have been on a inexperienced notice with Status Property surging 16%. IOC and ONGC have been among the many prime losers in Nifty 50 at this time. On the technical entrance, the market is witnessing a steady optimistic pattern and it has sustained effectively above 17,300-350 ranges and we consider this up transfer will prolong until 17500 stage within the brief time period. On the down aspect 17,100 is the instant help in Nifty 50 adopted by 16,900.”

Gaurav Udani, CEO & Founder, ThincRedBlu Securities –

“Nifty traded in a small vary of fifty factors at this time. The view in Nifty stays bullish with ranges of 17450 and 17500 within the subsequent few buying and selling classes. Nifty closed at 17379 up by 55 factors. Nifty has help within the 17280 and 17250 vary. Merchants can use buy-on correction with strict cease loss within the present markets.”