HDFC Life, Muthoot Fin: 75% stocks in financial services index eye bull-run

The Nifty financial services index is poised to rally in the direction of 20,700 - 20,900 level, delivering an upside of 5 per cent.

The Indian domestic market, the BSE Sensex and Nifty 50 hit a new all-time high on Wednesday, but Nifty Financial Services was far ahead in reaching its new peak. 

The Financial Services  index sets a new record peak on Tuesday, with nearly three-quarter of stocks implying robust chart structures. In total, nearly 15 stocks are developing trend that might see a resilient sentiment witnessing an aggressive accumulation.

While HDFC Life Insurance Company, ICICI Lombard General Insurance Co, Muthoot Finance and ICICI Prudential Life Insurance Company have reached new 52-week high, trading set-up of Cholamandalam Investment and Fin Co, Bajaj Finserv,