Heavyweights Reliance Industries, HDFC Bank and ICICI Bank helped the gains. Among sectors, Nifty Pharma and Nifty Metal led the rally with 2.7 percent and 1.5 gains
Tech View: Nifty may enter a brief consolidation; 15,000 level a hurdle
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For the day, Nifty closed at 14,894, up 30.35 points or 0.2 per cent. Gaurav Ratnaparkhi of Sharekhan said the index stumbled near the daily upper Bollinger Band as well as the upper end of a rising channel on the hourly chart.
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Mazhar Mohammad of Chartviewindia.in said the advance-decline ratio was skewed in favour of the bears, hinting at broadbased profit booking around the psychologically critical resistance at 15,000 level.
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NEW DELHI: Nifty on Thursday saw selling pressure after taking out the 15,000 level in intraday trade. The NSE barometer eventually eked out marginal gains, but formed its first bearish candle on the daily chart in six sessions.
Trade Setup: Nifty may stage a mild technical pullback; stay light on positions
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The session has been damaging from a technical point of view. Nifty slipped well below its 100-DMA at 14,332 on an intraday basis
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The levels of 14,400 and 14,490 will act as resistance points, while support will come in at 14,310 and 14,160 levels.
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The domestic equity market took a serious sentimental hit as it stepped into the new week with the highest number of Covid cases and the administration grappling with issues of supply constraints of oxygen and other medical infrastructure being pushed to the brink.
Monday s session is likely to have a stable start to the day. The levels of 14,900 and 14,935 will act as resistance points, while support will come in at 14,780 and 14,700 levels.
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Money manager Kalpen Parekh shared a strategy to beat Nifty, while smallcap hunter Porinju Veliyath revealed his favourite sector following the Budget announcements.
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In this edition of Tweet Buster, we scan the social media platform for market gyan, investing strategies and stock recos to help you make the most of this post-Budget bull run.
NEW DELHI: You may argue whether the Budget indeed turned out to be a never seen before one or not, but Nirmala Sitharaman s ideas have undoubtedly made the stock market go to never-seen-before heights. As portfolios have started swelling, Twitter is flooded with