India’s main stock index, the Nifty, started the short trading week on a strong note, climbing past 26,150.
At the close, the Sensex was up 638 points (0.77%) at 85,567, and the Nifty rose 206 points (0.79%) to 26,172. Mid‑cap and small‑cap indices outperformed, gaining about 0.8% and 1% respectively.
All sectoral indices ended higher. Capital goods, metals and IT each rose between 1% and 2%.
More than 120 stocks touched 52‑week highs, including names such as NALCO, MCX India, Kirloskar Oil, Hindalco, Ashok Leyland, Vedanta, and many more.
On the daily chart the Nifty formed a large bullish candle and broke the short‑term barrier of 26,050. The next resistance lies between 26,250 and 26,325, while support is now around 26,050. Short‑term traders may consider taking profits near the 26,250‑26,325 zone and watch for a clear breakout above 26,325.
The Bank Nifty closed at 59,304, forming a small green candle above the previous high. Immediate resistance is near 59,550; a firm move above that could push the index toward the 59,800‑60,000 range.
The broad rally, strong foreign inflows and many stocks reaching new highs suggest a positive short‑term bias. However, keeping an eye on the key resistance levels and using stop‑losses can help manage risk.
Remember, this is my view, not a prediction. Do your own research and consider speaking with a qualified advisor before making any investment decisions.
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