After The Bell: Nifty closes in on 14K, what should investors do on Thursday?
Traders should exercise the utmost caution with their long side bets, as the market may remain both listless and volatile on monthly expiry session, say experts. December 30, 2020 / 05:05 PM IST
Indian markets closed in the green for the sixth consecutive day on December 30, as the S&P BSE Sensex rallied more than 100 points and the Nifty50 closed just a shade under 14,000.
The market bounced back after profit booking in intraday trade. The Nifty50 bounced back from its 5-days Exponential Moving Average (EMA) placed at 13,847. Finally, the Sensex ended the day 133 points higher at 47,746 and the Nifty gained 49 points at 13,982.
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NEW DELHI: Nifty again touched its lifetime high, but shied away from breaching the crucial mark of 14,000 in today s trade and formed a Dragonfly Doji formation for the day, signalling indecisiveness in the market. Nifty continued its winning streak for the sixth consecutive session, but the recent indecisive candles call for caution with the trade.
Rohit Singre, Senior Technical Analyst at LKP Securities said, The index has reached its immediate and strong hurdle zone of 14,000-mark and if Nifty managed to hold above the 14,000-mark, then only we may see the current bullish momentum to extend further towards the 14,200 zone. Otherwise, some profit booking can be witnessed and the index is likely to trade in the range of 13,800-14,000 zone.
Nifty sets sight on 14,000, analysts positive on banking stocks
FILE PHOTO: A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, January 3 2020. REUTERS/Francis Mascarenhas/File Photo
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IndusInd Bank Ltd was the top percentage gainer on the Nifty
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Indian stock markets today finished at record highs with benchmark index Nifty inching closer to 14,000. Financial stocks led the advance as Nifty ended 0.43% up at 13,932.60, while the benchmark Sensex rose 0.55% to 47,613.08. The Bank Nifty, which is among the few sectoral indices still down this year, has been catching up with the broader market s advance as foreign investors bet that a rebound in economic activity will benefit lenders.
Sensex closes at record high, Nifty at 13,932; ITC, SBI, HCL Tech top gainers
Globally, markets were trading at record highs today as hopes that a long-awaited U.S. pandemic relief package would be expanded and a Brexit trade deal supported investor risk appetites
BusinessToday.In | December 29, 2020 | Updated 19:36 IST
On Sensex, IndusInd Bank, SBI, ITC, Infosys, HCL Tech, Tech Mahindra, Axis Bank, HDFC Bank and Bajaj Auto were among the top gainers
Market indices continued racing to fresh peaks on Tuesday for the fifth straight session and ended at record highs, tracking gains in index majors, amid a broad-based rally in global markets. After opening at lifetime highs, Sensex ended 259 points higher at 47,613 and Nifty gained 59 points to close at 13,932. During today s session, Sensex hit an all-time high of 47,714 and Nifty logged a lifetime high of 13,967.
After The Bell: Nifty heads towards 14k, what should investors do on Wednesday?
Markets are still rewarding those who focus more on the selection of stocks and the trend will continue, say experts.
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Indian market closed in the green for the fifth day in a row to push benchmark indices to new highs, with the BSE Sensex hitting 47,714 and the Nifty50 13,967.
The Bulls remained in control despite some profit-taking at higher levels. The Nifty50 is just 68 points shy of the crucial psychological level of 14,000.
Let’s look at the final tally on D-Street – the Sensex closed 259 points higher at 47,613 while the Nifty50 rose 59 points to 13,932.