Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities
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Below the Quote on Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices nifty/ Sensex registered a fresh all time high of 25078.30/82129.49. The nifty ends 53 points higher while the Sensex was up by 126 points. Among sectors, Energy index gained 2 percent whereas Media and Reality indices shed over 1.75 percent. Technically, after a gap up opening the Nifty/ Sensex made a fresh all time high of 25078.30/82129.49 but witnessed intraday profit booking at higher levels. However, the short-term texture of the market is still in to the positive side. We are of the view that, as long as the index is trading above 24950/81500 the bullish sentiment is likely to continue. On the higher side, the market could rally up to 25100-25200/82000-82300. On the flip side, below 24950/81500 the selling pressure is likely to accelerate. Below the same, the market could retest the level of 24850-24800/81200-81000.
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