The Nifty Bank has seen a sharp rally from 27,750 to 32,150 levels in the last 33 sessions. It witnessed one session of a "gap-up" close, whose range of 30,860 - 30,789 is not even filled
The daily chart shows buying around 40,200. If this level holds, then a further upside looks certain. Although, MACD trades with a negative crossover, the charts do not indicate any major weakness
Equity markets witnessed yet another record-breaking session on Thursday as investor sentiment remained buoyed on Rs 25,000 crore booster dose for the realty sector
Benchmark indices ended Friday's volatile session on a flat note with positive bias.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks most prune to "high risk" emanating from Anil Dhirubhai Ambani Group (ADAG), Cox & Kings, CG Power, and DHFL
The S&P BSE Sensex on Tuesday tanked 642 points or 1.73 per cent to end at 36,481.09 while the NSE's Nifty50 settled at 10,818, down 186 points or 1.69 per cent.
Based on consensus estimates and their own analysis, earnings for the Sensex and Nifty indicate a growth of 4% and 6% YoY, respectively at the aggregate level.
Going ahead, the immediate trend suggests the index will continue on its journey north provided it trades above 29,800 on a closing basis