Post market comment by Mr Shrey Jain, Founder and CEO SAS Online - India`s Deep Discount Broker
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Below the Quote on Post Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
Today, the Indian stock market saw significant gains as both the Sensex and the Nifty 50 closed impressively. The Sensex surged by 941 points, a 1.28% increase, reaching 74,671.28, while the Nifty 50 closed at 22,643.40, up by 223 points or 1%. This bullish trend was primarily fueled by strong buying activity in banking stocks, propelling the Nifty Bank to soar over 2% and hit a record high of 49,473.60.
Looking ahead, for the Nifty, the support range is between 22,575 and 22,500, with the upper range expected to be between 22,700 and 22,750. As for the Bank Nifty, it's anticipated to reach 50,000 in the forthcoming sessions. Investors are advised to avoid hastily booking profits and instead maintain their long positions, considering potential buying opportunities, especially in the event of a minor gap-down opening tomorrow.
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