Positive global cues and a fall in inflation helped the sentiment. After strong results from TCS, Wipro and Infosys, all eyes will be on HCL Technologies which will come out with its December quarter numbers on Friday.
Ahead of Market: 12 things that will decide stock action on Thursday
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Rohit Singre, Senior Technical Analyst at LKP Securities said, The index has formed a good base near 14,500-14,430 zone and any break below said levels can emerge in more profit booking. Analysts said the index could be in for some consolidation, and believe Nifty testing of the 14,400-14,367 range could put an end to the ongoing strong momentum.
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NEW DELHI: Nifty today touched its fresh all time high, but soon saw a bout of profit booking and settled at almost the same level as the previous close. The headline index formed a bearish candle with a long lower shadow similar to a Hanging man pattern for the day.
In today s session, Sensex and Nifty hit new lifetime highs of 49,479 and 14,563, respectively. Reliance Industries, L&T, Bharti Airtel, ITC, Bajaj Finserv and TCS were among the gainers on Sensex chart