Taking Stock: Market posts solid gains; Sensex up 1,241 pts, Nifty above 21,700
Among sectors, oil & gas index up 5 percent, Power index up 3 percent, and Capital Goods index up 2 percent
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Among sectors, oil & gas index up 5 percent, Power index up 3 percent, and Capital Goods index up 2 percent
Nifty on Monday ended 385 points higher to form a long bull candle on the daily chart, indicating chances of an upside breakout of the hurdle at 21750 in the short term.
The broader market outlook suggests a sell-on-rise strategy as long as the Nifty 50 stays below 21,650.
Experts expect the Nifty 50 to focus on 21,800-22,000 levels in coming weeks after ongoing consolidation, while taking support at 21,700-21,500 levels and advising buy on dips strategy
Suven Pharma recently experienced a breakout from a pennant pattern on the daily chart, indicating an increase in market optimism.