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As the trend remains strong, the index is likely to climb above the 23,000 mark, and if it manages to sustain above the said level, then 23,500 can t be ruled out in the coming sessions, experts said. The support is placed at 22,800 and then 22,600 levels.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) hit their record high in early trade today. The railway stock has gained momentum in the last two months, rising 42% during the period. IRCTC shares climbed 1.89% to a high of Rs 958 on Friday against the previous close of Rs 940.20 on BSE. The railway stock opened higher at Rs 948.95. Total 1.96 lakh shares of the firm changed hands amounting to a turnover of Rs 18.69 crore on BSE. Market cap of IRCTC rose to Rs 76,124 crore.
BSE's Sensex tanked 670.93 points, or 0.93 per cent, to settle at 71,355.22. NSE's Nifty50 plunged 197.80 points, or 0.91 per cent, to end the day at 21,513 for the day.
The key Fibonacci retracement levels of 21,507 and 21,406) and the 20-day moving average of 21,426 are likely to provide cushion in case of a correction, says Jatin Gedia of Sharekhan by BNP Paribas