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Stock market today: Sensex closed the day 179 points, or 0.25 per cent, higher at 72,026.15 while the Nifty 50 settled at 21,710.80, up 52 points, or 0.24 per cent.
The short-term uptrend status of Nifty remains intact, but the market is likely to find resistance around 21,800-21,850 levels in the coming sessions. A decisive move only above 21,850-21,900 levels could open the next upside target of 22,200 levels. Any dips from here could find support around 21,500, said Nagaraj Shetti of HDFC Securities.
Analyst Anuj Gupta, Commodity & Currency Head at HDFC Securities sees Comex gold trading between $2,030 to $2,050 today with a positive bias and MCX gold within Rs 62,000 - Rs 63,000 range. As for silver, March contracts are likely to trade between Rs 71,500 and Rs 73,500, Gupta said.
The breakout confirms the resumption of the uptrend which could take the index towards 49,500-50,000 in the short to medium term, suggest experts.
Taking cues from the international market, MCX February gold futures were trading lacklustre in the opening trade.