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Budget rally adds Rs 14 lakh cr to market wealth as Sensex zooms 4,329 pts in 4 sessions

Budget rally adds Rs 14 lakh cr to market wealth as Sensex zooms 4,329 pts in 4 sessions
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Taking Stock | Bulls Stay In Control As Budget Rally Continues On 4th Day, Nifty Crosses 14,900

Taking Stock | Bulls stay in control as Budget rally continues on 4th day, Nifty crosses 14,900 Broader markets outperformed the main indices with BSE Midcap and Smallcap indices added 1.4 percent and 1.2 percent, respectively. February 04, 2021 / 04:36 PM IST The Budget rally continued for the fourth straight day on February 4 supported by the PSU bank and metal stocks. Nifty crossed 14,900 amid mixed global markets. At close, the Sensex was up 358.54 points or 0.71% at 50614.29, and the Nifty was up 105.70 points or 0.71% at 14895.70. One more positive session with index touching fresh high and closing the day on fresh highs at 14,888 with a gain of nearly one percent forming a bullish candle on the daily chart. Going forward, 14,750 has become a strong base in Nifty. Also one can consider this as a make or break level - any break below said levels can see some more profit booking but holding above said levels we may see index to march towards 15k mark, said Rohit Singr

Here s Why Nifty May Scale The 15,000-mark Sooner Than Expected

Here s why Nifty may scale the 15,000-mark sooner than expected Analysts believe the bull roar in the market will continue and Nifty may scale the milestone of 15,000 by the expiry of the February F&O series. February 03, 2021 / 05:56 PM IST The Indian market continued witnessing a strong wave of buying for the third consecutive session on February 3 as the equity benchmarks - Sensex and Nifty - hit their fresh 52-week highs in the morning trade. Sensex jumped over 600 points to hit a fresh all-time high of 50,408.47 while Nifty made a fresh peak at 14,839.80. Analysts believe the bull roar in the market will continue and Nifty may scale the milestone of 15,000 by the expiry of the February F&O series.

Nifty Analysis: Tech View: Nifty forms Hanging Man, looks poised to slow down

NEW DELHI: Nifty formed a ‘Hanging Man’ kind of pattern on daily charts on Wednesday, which is a bearish reversal pattern, a hint that the ongoing rally may be nearing its end, said analysts. Nifty continued its climb in the third straight day, breaching all records and closed at 14,789, registering a gain of 0.97 per cent or 142.10 points. In the last three days, it has rallied over 1,150 points. “Despite this kind of sharp rise witnessed from the lows of 13,596 to a high of 14,868, the momentum oscillators are presenting a completely different picture, as the daily MACD still remains in ‘sell’ mode, the RSI continues with lower tops and some other leading momentum indicators have reached the overbought zone,” said Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.

Nifty anlaysis: Tech View: Nifty forms big bullish candle; 14,750 level crucial now for further gains

NEW DELHI: The bulls continued to build long positions, as Nifty on Tuesday tested the all-time high the index had recorded last month and in the process formed another big bullish candle. Analysts believe the 14,750 level will now be crucial in deciding which way the index moves. The 50-pack witnessed continuation of the positive momentum and opened with a significant gap on the upside. It went on to test the all-time high of 14,753, but closed at 14,647, registering a gain of 366.65 points. “Once the high gets taken out, the index can head towards 15,000 level in the short term. On the downside, the gap area between 14,469 and 14,336 levels will act as a crucial support zone. The 20-DMA is also near the gap area, which will offer additional support, said Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas.

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