At close, BSE Sensex was trading 474.46 points higher at 67,571.90 and Nifty50 was trading 146 points higher at 19,979.15.
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New Delhi: Indian indices opened flat Thursday after several days of positive starts. Sensex opened at 67,074.34 (previous close: 67,097.44), touched a record high of 67,619.17; meanwhile, Nifty opened at 19,831.70 (previous close: 19,833.15), touched a fresh all-time high of 19,991.85 during the day’s trade.
At close, BSE Sensex was trading 474.46 points higher at 67,571.90 and Nifty50 was trading 146 points higher at 19,979.15.
“The market is witnessing frenzied buying support from foreign investors, and it’s just a matter of time that the benchmark Nifty will top the 20K mark.
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Such has been the rally that some of the mild negative flows too are getting discounted in this bull run,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.
“Technically , after a muted opening the index took support near 19750 and reversed. On daily charts, it has formed a bullish candle and on intraday charts it is holding higher bottom formation, which is largely positive. However, the short-term texture of the market is overbought, hence we could see some profit booking at higher levels.”
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“For the trend following traders, 19850 would be the key level to watch out for and above the same, the market could move up till 20100-20150. On the flip side, below 19850 traders may prefer to exit from long positions, as any further correction could see the index retest the level of 19750-17700.”
