BSE Sensex and Nifty 50 ended in the positive territory for the second consecutive session on Monday. The 30-share Sensex topped 50,650, even though Nifty 50 ended just shy of 15,200. Broader markets outperformed the equity benchmarks. S&P BSE MidCap jumped .86 per cent or 184 points to finish at 21,669.64, even though S&P BSE SmallCap index gained 162 points or .70 per cent to finish at 23,292. Market breadth was positive with 1,967 stocks advancing, even though 1,250 scrips declined. A total of 169 shares remained unchanged.
Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments
15200-15250 is posing a brief-term resistance for the Nifty. However, the trend continues to stay positive and we need to be in a position to obtain 15300. Until then, dips or intraday corrections can be used to enter extended positions. The assistance of 15000 is an essential one and as extended as that holds on a closing basis, we are in a bullish market place.
Vinod Nair, Head of Research at Geojit Financial Services
A steady decline in fresh covid instances and hopes of the lockdown getting lifted sooner has influenced the domestic market place to extend its gains. Positive quarterly earnings and easing asset high-quality woes helped banking stocks to attract obtaining interest even though mid and compact-cap stocks outperformed. On the international front, UK and US Manufacturing PMI information reported record-higher numbers even so investors are awaiting inflation information for guidance on monetary policy.
Sumeet Bagadia, Executive Director, Choice Broking
Technically, the nifty index has breached the prior resistance of 15044 levels and sustained above the Falling Trendline as properly as the Ichimoku Cloud formation that suggests a bullish strength in the counter. An oscillator Stochastic & MACD also recommended positive crossover on the each day time frame which additional added strength in the counter. At present, the nifty appears to have an quick resistance at 15340 levels and key resistance is intact at 15450 levels even though assistance is placed at about 15000 levels.
Ajit Mishra, VP – Research, Religare Broking Ltd
Markets traded volatile in a variety and ended marginally in the green amid mixed cues. After the initial uptick, the benchmark hovered in a variety till the finish even though the movement on the broader front kept the participants busy. On the sectoral front, a mixed trend was seen, wherein FMCG, metals and customer durables have been the losers, even though banks, capital goods, energy and oil & gas have been the leading gainers. Among the benchmark indices, Nifty ended up by .2% at 15,198 levels. The broader markets outperformed and ended in a variety of .7-9%. Markets are most likely to take cues from the last leg of earnings and scheduled F&O expiry. Besides, international cues and news connected to COVID instances and vaccine drive will be closely monitored by the participants. We reiterate our bullish but cautious stance and recommend maintaining the focus on choice of sectors and stocks.
Rohit Singre, Senior Technical Analyst at LKP Securities
Index opened a day with a compact gap but showed compact profit booking and closed a day at 15197 with minimal gains & formed a compact bearish candle on each day chart. Going forward index has great assistance zone about 15100-15000 mark any dip about mentioned level will be once again obtaining chance with maintaining general quit out level under 15k mark, quick resistance is placed at 15250-15330 zone about these level we could see some profit booking.