Nifty rallied today gaining 140 points and closing 1.84% higher, almost at the resistance zone of 7730. Banknifty on the other hand went further ahead and closed 3% higher from yesterday’s dull session. Today was the last day of trade for the March contract as tomorrow is the expiry. The road ahead looks bullish enough for the indeices. Banknifty has espeicially given a wonderful breakout from a trendline.
The NSE realty index also rallied during the day. The major winners were the banking stocks, like ICICI, SBIN and steel sector like the TATAsteel, VEDL, hindalco. The losers had some FMCG stocks and amongst the auto , the Mahindra and mahindra stock.
The international indices have also shown a strong rally. The European indices are currently trading 2-3% higher, whereas the Asian indices have closed in strong green, except for Japanese Nikkie which closed 1.33% lower.The DJIA and NASDAQ futures are also bullish, trading more than half percent higher. The Crude oil is strongly positive, with a trade of good 1.83% higher than yesterday.
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