Post-market comment by Mandar Bhojane, Choice Broking
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Below the quote on Post-market comment by Mandar Bhojane, Research Analyst, Choice Broking
Indian benchmark indices ended higher for the third consecutive session on February 15, with Nifty closing above 21,900. At the close, the Sensex gained 227.55 points or 0.32 percent, reaching 72,050.38, while the Nifty rose by 70.80 points or 0.32 percent, closing at 21,910.80.
Top gainers on the Nifty included M&M, BPCL, ONGC, NTPC, and Power Grid Corporation, while Axis Bank, Apollo Hospitals, ITC, HUL, and Nestle India were among the top losers. With the exception of FMCG, all other sectoral indices closed in the green.
Analyzing the daily chart of Nifty, a neutral candlestick with a long wick pattern and substantial volume was observed, indicating uncertainty in the index. If Nifty crosses the 22,000 level, there is potential for it to reach an all-time high in the next few sessions, targeting 22,200-22,300 levels.
The immediate support for Nifty is currently at the 21,800 level. On the upside, resistance levels are identified at 22,000 and 22,100. The overall chart pattern, positive market breadth, and sectoral performance suggest a favorable outlook for the Nifty, indicating the potential for further upward movement.
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