Bearish engulfing pattern seen in these 8 Nifty indices. Time to be cautious?
If IT stocks deliver, the Nifty can easily make new highs. On the down side, the major support for Nifty is around 21,800, says analysts
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If IT stocks deliver, the Nifty can easily make new highs. On the down side, the major support for Nifty is around 21,800, says analysts
Top Gainers and Losers Today : The Sensex gained 535.15 points, or 0.74, to settle at 72623.09, while the Nifty gained 162.4 points, or 0.74, to close at 22055.05.
A long build-up was seen in 98 stocks, which included ABB India, Eicher Motors, Siemens, Maruti Suzuki India and Oracle Financial Services Software
A short build-up was seen in 61 stocks including Lupin, HDFC AMC, SBI Life Insurance Company, Bata India, and Kotak Mahindra Bank.
"We suggest maintaining a positive yet cautious stance as Nifty is set to retest its record high. Needless to say, we need sustainability above 22,150 to end the consolidation and march towards the 22,500+ zone else profit-taking may resume," said Ajit Mishra, Religare Broking.