F&O expiry: Sensex eyes 60,000 goal, Nifty at fresh listing closing; is 18,000 on cards for Nifty?

Nifty is now trading in an uncharted territory which is extremely bullish. Image: Reuters © provided with the aid of The economic categorical Nifty is now trading in an uncharted territory which is extremely bullish. image: Reuters

On the day of weekly F&O expiry, BSE Sensex and Nifty 50 ended over 1.5% higher, led by means of buying in index heavyweights corresponding to Reliance Industries Ltd (RIL), Housing construction Finance corporation (HDFC), and HDFC financial institution. BSE Sensex rallied 958 aspects or 1.63% to conclusion at the optimum ever degree 59,885, whereas NSE's Nifty 50 zoomed 276 elements or 1,fifty seven% to settle at 17,823. during intraday, the 30-share Sensex hit a record excessive of fifty nine,957, and Nifty rose to a sparkling lifetime high of 17,843.90. Broader markets also participated within the rally today. BSE Midcap index surged 1.3% or 323 features to end at 25,490, while the Smallcap index won almost one per cent or 253 aspects to conclude the exchange at 28,109. Technical analysts say that the Nifty 50 index closed smartly above the resistance of 17600 and should now be headed to 17900-17950.

Manish Hathiramani, proprietary index dealer and technical analyst, Deen Dayal Investments

The index closed smartly above the resistance of 17600 and will now be headed to 17900-17950. Any dip or intra day correction should be utilized to build up long positions. 17500 has become a brand new support for the Nifty and provided that that holds, the ordinary fashion remains bullish.

Devang Mehta, Head-equity Advisory, Centrum Broking

The market took the us Fed commentary of starting tapering as soon as November in its stride. Encouraging news on Evergrande disaster also helped to clear some uncertainty on the international front. Indian markets have been on a roll and the rally nowadays become symbolic of the existing potent sentiment locally on the back of reduction in covid instances and the strong vaccination numbers. With improvement in economic exercise and the optimism around the capex cycle revival, the income trajectory for India Inc will naturally get a large increase. lots of the organizations which might be market leaders of their respective domains have viewed working efficiencies and productivity enrich and also been capable of in the reduction of debt with favorite gain in market share as well.

Vinod Nair, Head of analysis, Geojit economic features

Amidst a strong beginning, bulls confirmed no indications of weakness to soar greater boosted by way of amazing global cues and wide-primarily based buying led by using realty, metallic and banking stocks. international markets tempered optimism regardless of a slightly hawkish tilt via the Fed Reserve intimating that the us valuable financial institution will begin decreasing its asset purchases in November and conclude the tapering method around mid-2022. youngsters, buyers continue to remain on the part looking ahead to readability on the chinese economic system. The home fact sector continued its rally sparked via demand revival within the property area.

Rohit Singre, Senior Technical Analyst, LKP Securities

Index witnessed a decisive breakout and closed a day at 17823 with decent beneficial properties of 1 and a half per cent forming a bullish candle on the every day chart. The index has witnessed a spread breakout which guidelines if current ranges are held then we may additionally witness subsequent short stream against 18k mark, immediate supports for nifty is shifted to 17770-17700 zone any dip close mentioned helps zone may be once more purchasing opportunity with keeping instant cease out degree beneath 17700 zone and if referred to stages are held we may additionally see the index to march in opposition t 17900-18000 zone which is instant hurdle zone on the greater side.

Gaurav Udani, CEO & Founder, ThincRedBlu Securities

Nifty made a brand new all-time high of 17843.9 today. It closed at 17826 up by way of 280 facets from the day past's close. Nifty is now buying and selling in uncharted territory it is extraordinarily bullish. it may possibly face some minor resistance 17860-17900 range. It has robust assist in 17580-17620 range. traders can believe purchasing on dips with strict cease loss.

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