A record over 51.84 lakh people registered for SIPs in January compared to 40.33 lakh a month ago, clocking a 28.5 percent spike over December and a 128.9 percent surge over the last year
With a sharp rally in the Reliance stock, the net worth of Mukesh Ambani, the chairman of Reliance Industries, jumped $6.7 billion on Monday to $111.1 billion, according to the Forbes Real-Time Billionaire list.
And the put call writers have also shown some covering on their writing position at 21,700, 21,800 strikes. That clearly shows this momentum can continue and we may see a 22,000 and 22,200 kind of level in the coming week.
Krishnan sees a strong support at 19,300 with the sheet anchor lying around the 19,250-19,200 zone and 19,500 acting as a strong resistance and only a decisive breakthrough will re-strengthen the undertone in his opinion.
With the highest returns of 9.38%, M&M was the top performer in the pack and was followed by Adani Ports (9.34%) and NTPC (9.14%). LTIMindtree, Tech Mahindra, and Infosys gave between 6-8.85% returns.