How are the bluechips doing? After opening in the green, benchmark indices moved further higher. At 1 pm, BSE flagship Sensex was up 437 points or 0.81 per cent to 54,261. NSE benchmark Nifty advanced 98 points or 0.60 per cent to 16,227 “Nifty finally hit an all-time high of 16,146 after consolidating for 62 days. As per F&O data, short covering rally can trigger the momentum towards 16,389-16,418 zone. The risk to this breakout is negative divergence on Relative Strength Indicator (RSI) on weekly charts, which cannot be overlooked,” said Brijesh Bhatia ,Senior Research Analyst Equitymaster. In the 50-share pack Nifty, Tata Steel was the biggest gainer, up 2.23 per cent. HDFC, Shree Cement, Coal India, ICICI Bank, Adani Ports, JSW Steel and Dr Reddy’s Labs were among other gainers.