It was a fabulous Start of the week, the Indian Stock Market has witnessed tremendous boom today. Sensex rellied 300 points and Nifty remains in buying side. Its a positive effect of signals from the US and Europe Mrket Data on the Sensex and Nifty. All sector indices of NSE is doing trading with strength. Bank Nifty is at the level of 17894. However, auto and metal sector index are up by 1.20 percent and 1.40 percent respectivly with the level of 2469.
Midcap and Smallcap stocks also have good buying trends today. CNX Midcap index with a gain of 0.75 per cent has exceeded 12,600. The BSE smallcap index rose nearly 1% over 10,900 seems.
Nifty Trend For Today:
Overall its a Bullish day for Indian Stock Market and our experts say that technically in Nifty now a bounce is not ruled out as strong support exists at 8000-7960 the market bounce back and closed in the green as expected. Technically now 8270 is a stiff resistance to deal with. First sign of weakness would be the breach of 8123. The support for Nifty is it 8123-8000 and the resistance to the up move is at 8270-8350.
Get More Market Updates with Expert Recommendations on Your Mobile. Just Register Your No. here- Stock Market Tips