Bulls Back On D-Street, Bankex On Upper Hand

The Indian markets witnessed a handsome move in today’s session. Majority of the sectoral indices recovered well. Bankex stocks were leading today’s rally, and index surges around 354 points. This was followed by Auto and Healthcare index, as they were also surges more than 300 points each.  The Nifty closed above major resistance level and was up by 111 point and closed at 8532 while Sensex was up by 409 point in today’s trading session and closed at 28114.

The advance-decline ratio on NSE was positive side, as the day ended with 1653 shares in green and 1222 shares in the red zone.

Top Nifty Gainers: Bank Of Baroda closed the day higher by 5.28%, followed by Coal India, Lupin and HCL Tech.

Top Nifty Losers: Kotak Mahindra closed the day lower by 2.99%, followed by BHEL, BPCL, tata power and NTPC.

Majority of the sectoral indices closed in positive note in today’s trade. Bankex stocks witnessed a handsome rally and broke all the technical hurdles and was up by 354 points. Followed by Healthcare and Auto indexes also were up around 300 points respectively. While Consumer Durables, Capital Goods, Metals, Mid-Caps and Small-Caps also closed in green territory.

The Asian markets continued with a positive scenario. The Nikkei market saw some up moves by 62 points. The Hang Seng market was also seen positive up moves, and were up by 138 points. While Taiwan and KOSPI market was nominally up around by 20 points.

Buzzer: Bank Of Baroda was up by more than 5% on the bourses today and closed up at the technical level around Rs 175. If the stock opens above this level, it may touch Rs 182/185 mark in the next few trading sessions.

The Nifty Future has given bullish crossover after its broke 8500 level in today’s intraday chart indicating more up move, if it sustains above this level in the near future.