The overall market capitalization of BSE listed firms jumped to a record Rs 195.7 lakh crore from Rs 193.2 lakh crore in the previous session, making investors richer by Rs 2.5 lakh crore in a single day.Nifty hit new record high at 14,367.30 today up 209.90 points or 1.78 per cent, Sensex hit high record at 48,854.34 today up 689.19 points or 1.748 per cent.
NIFTY 50:
The Nifty50 opened strong at 14,258.40 and maintained an upward rally to touch a new higher high at 14,367.30. The index day up 209.90 points, or 1.48 percent, to end at a record closing high of 14,347.30. Experts feel if the current momentum sustains, the Nifty can go beyond 14,500 in the coming sessions.
The index formed a bullish candle on the daily as well as weekly charts as the closing at higher than the opening levels. The index up 2.3 percent for the week.
Index traders with a
high-risk appetite should go long by making use of intraday dip towards 14,250
levels, with a stop below 14,200 and look for a modest target placed in the
14,450–14,500 zone, analyst said.
Options front, maximum Put option open interest was seen at 13,000 followed by 14,000 strike, while maximum Call option open interest was at 14,000 followed by 14,500 strike. Minor Call option writing was seen at 14,400 then 14,700 strike, while Put option writing was seen at 14,200 then 14,300 strike.
The above mentioned option data indicated a wider trading range for the Nifty at 14,000 to 14,600 for the coming sessions.
BANK NIFTY:
The Bank Nifty opened high at 32,298.05 level intraday high, but could not sustain at higher zones and slipped there after. The bank nifty index Up 128.20 points or 0.40 per cent, to close at 32,084.20 and formed a bearish candle on the daily scale as it closed lower than opening levels, but continued its higher highs from the last five trading sessions.
TOP 5 GAINERS AND LOSERS:
GAINERS: MARUTI, TECHM, WIPRO, UPL and INFY
LOSERS : HINDALCO, INDUSINDBK, TATASTEEL, BHARATIARTL and GAIL
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