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Sensex gains 478 points, Nifty closes over 18,000; broad indices power rise - Dailyforextrading.net

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Sensex gains 478 points, Nifty closes over 18,000; broad indices power rise - Dailyforextrading.net


Benchmark indices saw strong trade in the green in the latter half of the day. On NSE, financial services, IT, Media, Metal, Pharma, PSU Banks, and realty all gained over 1%. On BSE, basic materials, industrials, information technology, utilities, capital goods, consumer durables, metal, oil and gas, power, realty, and teck showed over 1% gains.


Nifty made a bullish bar today. It closed above its resistance of 18,050 at 18,083, up by 165 points. Volumes in Nifty were higher than its average volumes, which is a good sign. Nifty may now test 18,150 and 18,200 levels. Nifty has support at 17,800 and 17,950 levels.

The markets rose to post its tepid opening and we have managed to close above the 17,950-18,000 level, which is a positive sign. This needs to be maintained for a couple of sessions and that would then open the doors for the index to scale higher towards 18,400-18,500. Since good support lies around the 17,550-17,600 level, dips can be utilized to accumulate long positions.

Benchmark indices saw strong trade in the green in the latter half of the day. Sensex closed the day's trading at 60,545.61, up 477.99 points, or 0.80%, while Nifty closed at 18,068.55, up 151.75 points, or 0.85%. On NSE, financial services, IT, Media, Metal, Pharma, PSU Banks, and realty all gained over 1%.

On BSE, basic materials, industrials, information technology, utilities, capital goods, consumer durables, metal, oil and gas, power, realty, and teck showed over 1% gains. IOC, Titan, and Bajaj Financial Services were the top gainers on Nifty, while IndusInd Bank, Divi's Labs, and M&M were top losers.

Sensex and Nifty rallied from lows hit after paring early gains in the morning to go above the 60,500 and 18,000 marks. The strong upward movement has continued pushed by stocks across sectors. Source.


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