Market shoot up and closed at 63 week high today. Nifty ended at 5710 and the adjusted close was 5691.15 by gaining 136.90 points. It is the highest closing since 7th July, 2011 and Sensex rallied 18752.83 with 403.58 points' jump. Mamta fear wiped out at the opening session and investors considered about new reforms by the UPA Govt. and all heavy weight stocks rallied.
Among BSE Sectoral indices, Power sector was the top gainer by 4.35% followed by Capital Goods'(4.12%), Metal(4.06%) & Bankex(4.05%).IT and Teck sectors didn't participate into today's rally.
In Nifty50 stocks, Relinfra was the top gainer by 9.86% and ended at 544.7 whereas TCS was the top loser by 1.15% and ended at 1306.75. LITL was the turnover topper by the traded quantity and SBIN was by the traded value.
Advance/Decline ratio was positive as 1032 stocks gained and 441 stocks declined on NSE today.
Nifty Future Outlook : As stated into previous blog published on last Friday, Nifty had given a break-out above 5465 and Nifty Fut. remained above the breakout level. Today, Nifty Fut. achieved it's target of 5670 and 5700. Now the immediate resistance for Nifty Fut. is 5760-5770 and immediate support would be 5550. Book profits on rallies and buy on dips.Best levels to re-enter into Nifty Fut. are 5450-5460 and 5290-5300 but it does not mean to take short positions.
Major Global Indices :
Nikkei : +23.02
HangSeng : +144.02
FTSE : -2.86
CAC : +0.75
DAX : +22.06
Dow Futures : +32.00
Nasdaq Futures : +4.75
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