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Taking Stock | Sensex, Nifty End A Percent Higher, Mid And Smallcaps Underperform
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Sensex rises 437 points, Nifty closes at 13,601; M&M, SBI, Infosys, ITC top gainers
Sectorally, all the indices closed in green territory, with almost 4% rise in realty, 3.2% in media, 2.3% gain in IT index, and almost 2% gain in PSU Bank
BusinessToday.In | December 23, 2020 | Updated 18:45 IST
Infosys, SBI, ITC, HCL Tech, Maruti, Tech Mahindra, TCS, M&M and Titan were among the top gainers on Sensex
Market indices closed on a bullish note for the second straight session on Wednesday, taking cues from positive global equities. Sensex ended 437 points higher at 46,444 and Nifty gained by 134 points to 13,601.
Yesterday, Sensex ended 452 points higher at 46,006 and Nifty gained 137 points to 13,466. Last Friday, Sensex had hit an all-time high of 47,026 and Nifty had logged a lifetime high of 13,772.
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Mumbai: After a 437-point bounce in Nifty50, the index formed a bullish candle on the daily chart, as it seemed to be staging a V-shape recovery on the hourly chart, implying that the same momentum may continue.
“As expected, the index managed to hold Tuesday’s bullish momentum and closed the session on a positive note with gains of one per cent. In the process, the index formed a bullish candle on the daily chart,” said Rohit Singre, Senior Technical Analyst at
“On the hourly chart, it seems the index is seeing a V-shaped recovery. If it turns out to be true, then we can expect the current pullback to extend further towards the 13,775 level, which was the previous swing high. On other hand, good supports are seen near the 13,550-13,460 zone,” Singre said.
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According to pivot charts, if the index moves up, the key resistance levels to watch out for are 13,669.67 and 13,738.23. Sunil Shankar Matkar December 24, 2020 / 12:22 AM IST
The market after initial volatility gained strength and remained strong for the rest of the session to close higher for the second consecutive day on December 23, supported by buying in almost all sectors.
The BSE Sensex jumped 437.49 points or 0.95 percent to 46,444.18, while the Nifty50 rose 134.80 points or 1.00 percent to 13,601.10 and formed a bullish candle on the daily charts. As expected index managed to hold its Tuesday s bullish momentum and formed a bullish candle on the daily chart. On the hourly chart, it seems the index is in V-shape recovery and if it turns to be true then we may see a current pullback to extend further towards 13,775 which is the previous swing high and on o
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NEW DELHI: Continuing its recovery path, the Nifty gained 1 per cent on Wednesday forming a bullish candle on the daily chart.
Rohit Singre, Senior Technical Analyst at LKP Securities said, “On the hourly chart, it seems index is in V-shaped recovery and if it turns to be true then we may see a current pullback to extend further towards 13,775, which is previous swing high and on other hand, good supports are formed near 13,550-13,460 zone.” Market is continuing its rally amidst concerns over new virus strain, lockdown and weak global cues, fueled by IT, mid and smallcaps. The additional stimulus announced in the US did not gain much momentum in the global market as the quantum of the benefit was well-factored, but Europe and EMs are maintaining buoyancy. In the coming days, the market will also focus on Brexit trade deals, which are expected to be finalized soon and fallout in the economy due to strict lockdown, said Vinod Nair, Head of Research at Geojit Financ
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