Mumbai: After wild swings, Nifty50 formed a Bullish Harami kind of pattern on the daily chart on Tuesday, indicating the likely continuation of bullish sentiment. But analysts said it is too early to confirm the trend.
Shrikant Chouhan, Executive Vice President of Equity Technical Research at Kotak Securities, said for the positive momentum to continue, Nifty50 needs to sustain above 13,550 level.
“Meanwhile if the market breaks the 13,100 level, we may see another decline to 12,900-12,800 levels. On Wednesday, Nifty could be hit hard at 13,550 and 13,650 levels,” he said.
Aditya Agarwala, Senior Technical Analyst at Yes Securities, said a sustained trade above the 61.8 per cent Fibonacci retracement level of the entire fall, i.e. 13,535, can trigger more short-covering rallies and take the index back to 13,580-13,650 levels.
Year-ender 2020 | Mid, smallcaps outplay Sensex, will the winning run continue in 2021?
With signs of recovery in the macroeconomic climate, mid and smallcaps may surprise investors in the weeks and months to come, say analysts. December 21, 2020 / 02:03 PM IST
The record-breaking spree of the Sensex and the Nifty has brought a lot of cheer, and money, to investors but a lot has been happening in the broader mid and small-cap universe too, offering good, or even better, investment opportunities.
As of December 18 close, the BSE midcap index gained 19 percent and the smallcap index 30 percent in the calendar year 2020, so far, against a 14 percent gain in the Sensex.
FII flows may slow down but uptrend will continue: Analysts
For the next few trading sessions, 13650 should be the sacrosanct level for the trend following traders, says Shrikant Chouhan of Kotak Securities December 21, 2020 / 08:44 AM IST Indian market ended higher for the seventh straight week, with benchmark forming new all-time highs on the back of favourable global and domestic cues. Despite the run-up, analysts continue to be positive on the market. Here s what they have to say about this week: Vinod Nair, Head of Research at Geojit Financial Services | Updates on Brexit deal and US stimulus package are expected to drive global market in the coming days. FED’s decision to keep rates unchanged will help FIIs to maintain a positive view on emerging markets like India.
Time for market to hit the pause button after recent bull run? Here s what top analysts think
The S&P BSE Sensex rallied 861 points or 1.87 percent while the Nifty50 was up 1.83 percent for the week ended December 18. December 20, 2020 / 11:31 AM IST
The dream run of the market continued in the week gone by, too, when the Sensex and Nifty scaled fresh record high and traded in unchartered territory.
The Nifty50 closed above 13,700 levels while the S&P BSE Sensex touched 47,000 last week.
The S&P BSE Sensex rallied 861 points or 1.87 percent while the Nifty50 was up 1.83 percent for the week ended December 18 compared to the 1.6 percent gain seen in the S&P BSE Midcap index and 1.2 percent rise in the BSE Smallcap index in the same period.
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Share Market Highlights: Sensex ends at record high, Nifty at 13,760; TCS, SBI, L&T, Nestle, Titan top gainers
India Stock Market Highlights Today: In today s session, Sensex hit an all-time high of 47,026 and Nifty logged a lifetime high of 13,772.
BusinessToday.In | December 29, 2020 | Updated 20:03 IST
Share Market Highlights: Here s a look at the updates of the market action on BSE and NSE today
Sensex, Nifty Highlights on December 18: Equity indices closed at new record highs on Friday, amid mixed trend from global equities. Extending gains for the sixth session, Sensex ended 70 points higher at 46,960 and Nifty gained by 19 points to 13,760. In today s session, Sensex hit an all-time high of 47,026 and Nifty logged a lifetime high of 13,772. Yesterday, Sensex ended 223 points higher at 46,890 and Nifty gained by 58 points to 13,740.