Taking Stock- Nifty above 15,800, Sensex closed near record high, financials boomed

On the first day of the week there was a lot of excitement in the market. Buying was seen in midcap, smallcap stocks. The same realty, metal, banking stocks rose. There was also buying enthusiasm in auto, FMCG shares. At the end of trading, the Sensex closed at 52,880.00 with 395.33 points, or 0.75 per cent. On the other hand, the Nifty closed at 15,834.35 with a gain of 112.15 points, or 0.71 percent, i.e. above the psychologically important 15800 level.

Manish Hathirmani of Deen Dayal Investments said that the market has been in a good position for the whole day of trading today. However, we should take an upside call only if the markets close above 15,900. This will bring new enthusiasm which will take Nifty to 16100. The index is currently trading in range bounds of 15,400 and 159,00.

Among sectors, Nifty Bank, Metal and PSU Bank indices rose 1-1 per cent each, while some IT stocks saw selling. BSE Midcap and Smallcap indices rose 0.3-0.8 per cent.

Today the top gainers of Nifty were Hindalco Industries, ONGC, SBI, Tata Steel and Coal India while HDFC Life, Tech Mahindra, Dr Reddy’s Labs, BPCL and Britannia Industries were the top losers.

On the BSE, there was a rise of 1-3 per cent in bank, metal and realty, while selling was seen in powerstocks.

If we look at different stocks, there was a volume increase of 300 percent in Pidilite Industries, IRCTC and Godrej Consumer Products.

IRCTC, Bosch and Trent saw a long buildup, while NMDC, Aarti Industries and Britannia Industries saw a short buildup.

550 stocks including CoforgeZee Media Corporation, Rolta India, Pidilite Industries and Mawana Sugars touched a new 52-week high on the BSE.

Technical View

Nifty rejected its last four session lows and formed a bullish candle on the daily scale following the hammer pattern formed on July 2.

Chandan Taparia of Motilal Oswal Financial Services said that Nifty will have to stay above the 15,800 zone to move towards the 15,915 and 16,000 zones, while the downside is in the 15,700 and 15,600 zones. can be seen.

(Disclaimer: The views and investment advice given on moneycontrol.com are the personal views and opinions of investment experts. Moneycontrol advises users to consult a certified expert before making any investment decision.)

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