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Below are Views On Strong global cues pushes Nifty beyond 15100 By Mr. Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking)

“The positive global sentiment aided to a gap up opening for the week and the Nifty continued to march higher to end the first day of the week above the 15100 mark.

The bulls continue to dominate the market movement as we had another gap up opening today  to surpass the 15000 mark with an ease. Post the budget, it was the sixth straight session of gains and this vertical upmove has certainly overwhelmed traders with good returns. Today, the banking index initially took the charge but as the day progressed, we witnessed some sector rotation with other sectors such as Auto, IT and Metals gaining momentum in the later half. There’s no second thought about the trend for the market which continues to be up, but stock/sector specific approach is now providing good opportunities for traders. Hence, traders are advised to continue with a positive approach and look for stock specific opportunities. As far as levels are concerned, the 20 EMA on the hourly chart at 14970 is the support and till this is intact, one should look for buying opportunities on dips. On the flipside, 15200 followed by 15300 are the important levels to watch out for.”

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