: Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 433 pts #IndiaNEWS #Business The Indian stock market surged and continued its up-move on Monday’s opening bell. However, the battle

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 433 pts #IndiaNEWS #Business
The Indian stock market surged and continued its up-move on Monday’s opening bell.
However, the battle with inflation can be stretched, according to Deputy RBI Governor Michael Patra. On Friday, he said that retail inflation will likely get back to the mid-point of the Reserve Bank of India’s medium-term target of 2-6% in two years, given the raft of measures initiated by the monetary and fiscal authorities. Sensex gained 0.82 percent and closed at 53161.28 and Nifty inched up 0.85 percent intraday and closed at 15832.05 levels while Bank Nifty gained 0.55 percent and settled at 33811.25 levels.

Nifty heavy weights contributed the maximum which helped the indices to sustain above 15800 levels. After a long time all sectors ended in green. However maximum contribution was led by Nifty CPSE and IT with gain of 2 percent each.
In Nifty stocks, ONGC, COALINDIA and LT were the top gainers while APOLLOHOSP, EICHERMOT and HDFCLIFE were the prime laggards. OI Data of Nifty indicates, on the call side the highest OI witnessed at 16000 followed by 16200 strike prices while on the put side, the highest OI was at 15500 followed by 15700 strike price.
The trend may remain bullish for the shorter term but simultaneously profit booking from higher levels is expected as we are inching towards monthly expiry. Technically, Sustaining above 16000 levels on Nifty this week could result in acceleration of the uptrend, while 15,550 needs to be protected on the downside. If the Nifty breaches 15,350 on the downside, then the recent bullishness gets negated.
On the other hand, Bank Nifty has support at 33000 levels while resistance at 34500 levels. In coming days Crude, USDINR and Gold may drive and impact volatility in the Indian market as well.
Om Mehra
Research Associate
Choice Broking
Source: Choice India

Intraday stocks under 50 NSE India Twitter of India

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