: Share Market Closing Bell: Nifty ends above 17,900, Sensex rises 418 pts #IndiaNEWS #Business The Indian market ended on a positive side with last hours affirmative move. Markets factored in an aggressive

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Share Market Closing Bell: Nifty ends above 17,900, Sensex rises 418 pts #IndiaNEWS #Business
The Indian market ended on a positive side with last hours affirmative move. Markets factored in an aggressive rate hike and moved forward nevertheless the market may remain volatile amid weekly expiry.

Sensex gained 0.70 percent and closed at 60260.13 and Nifty inched up 0.67 percent intraday and closed at 17944.25 levels while Banknifty boosted 0.57 percent and settled at 39461.70 levels. NSE Midcap and Smallcap convincingly inched up by 0.97 and 0.38 percent respectively.
Among sectors, Nifty PSUBANK, Media and Nifty IT ended in green while Nifty Auto and Nifty CPSE were marginally lower. In Nifty stocks, BAJAJFINSV, HDFCLIFE and HEROMOTOCO were the top gainers while APOLLOHOSP, TATAMOTORS and M&M were the prime laggards.
Technically, Nifty has formed a Bullish Candle on a daily chart which indicates a continuation of the uptrend. Nifty has been trading above 21 and 50 DMA as well which adds strength for upside. The trend may remain bullish for the short term but simultaneously profit booking from higher levels is expected as well.
OI Data indicates, on the call side the highest OI is witnessed at 18000 followed by 18200 strike prices while on the put side, the highest OI was at 17800 strike price. Bank nifty has support at 38900 levels while resistance is placed at 40000. FIIs buying, flattening of inflation, softening commodity prices and good monsoon boosted investor’s sentiments as well.
Om Mehra
Technical Associate
Choice Broking
Source: Choice India

Intraday stocks under 50 NSE India Twitter of India

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