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Sensex, Nifty Close Flat Ahead of Union Budget; Mid and Smallcaps Shine.

Sensex and Nifty50 Close Flat but The BSE midcap index added 1.3 percent and the smallcap index rose 0.8 percent. Indian benchmark indices ended lower...

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HomeUncategorizedSensex Rally: Market Bounces Back with Nifty Edging Closer to 22,200.

Sensex Rally: Market Bounces Back with Nifty Edging Closer to 22,200.

Sensex Rally

Auto, Capital Goods, IT, Pharma, and Realty climbed 0.5-1 percent, while Oil & Gas fell 1%.

On February 27, car, capital goods, IT, and realty stocks rallied to keep Nifty around 22,200.

The market gradually gathered strength to close around the day’s high after a flat to negative start.

At closure, the Sensex was up 305.09 points or 0.42 percent at 73,095.22 while the Nifty was up 76.30 points or 0.34 percent at 22,198.30.

Sectors and stocks

Nifty winners were Tata Motors, TCS, IndusInd Bank, Power Grid Corp, and Sun Pharma. Losers included Hero MotoCorp, Bajaj Finance, SBI, Divis Labs, and UPL.

Auto, Capital Goods, IT, Pharma, and Realty rose 0.5-1 percent, while Oil & Gas fell one percent.

Midcap and Smallcap BSE indexes fell little.

Biocon, GMR Airports Infrastructure, and Hindustan Copper had volume spikes of 2,500 percent.

ICICI Lombard General Insurance, Havells, and Tata Motors had long build-ups, whereas Shriram Finance, Vodafone Idea, and NMDC had small ones.

Action Construction Equipment, Dishman Carbogen, Godrej Properties, Havells India, ICICI Lombard, Intellect Design, Jubilant Industries, Kellton Technologies, NCC, Paisalo Digital, PB Fintech, Quick Heal Technologies, Railtel Corporation of India, Sobha, Sona BLW, Swan Energy, Tata Motors, Voltas, and others hit 52-week highs on the Click for the complete list.

February 28 forecast

The Nifty developed a bullish engulfing pattern following two days of weakening. Since the index has held above the near-term moving average, the trend is favorable. Since the index closed above the consolidation high, bulls may maintain control. A significant rise over 22,200 might push the index above 22,400. Lower support is 22,000.

After a shaky start, the Nifty closed in the green. Daily charts show the Nifty holding around the 40-hour average support zone of 22100–22070. The Nifty has been stabilizing between 21900 and 22300 for many trade sessions.

Bollinger bands contracting indicates rangebound price movement. Intraday declines may be bought once the hourly momentum indicator crossed positive. On the downside, 21900 is key support and 22300 is the immediate challenge.

The Bank Nifty has ranged between 46300 and 47400. Holding onto the 40-day average (46300), it rebounded today. The upward momentum should continue in the coming trade sessions. The upside obstacle is 47000, then 47200.

FII Sold285.15  Cr
DII Bought 5.33 Cr
as per last trading session

Indian Market Stocks

Nifty 5076.30+0.34%22,198.35
Bank Nifty11.55+0.02%46,588.05
as per closing Bell

Market Movers

Tata Motors25.75 2.75%Hero Motocorp-66.05 -1.47%
TCS103.35 2.58%Bajaj Finance-87.00 -1.31%
IndusInd Bank26.55 1.81%SBI-9.05 -1.19%
Sun Pharma25.80 1.66%Divis Labs-37.55 -1.05%
Power Grid Corp4.70
UPL-4.55 -0.93%
as per closing Bell

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Sensex Rally Sensex Rally Sensex Rally Sensex Rally

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