According to Likhita Chepa at CapitalVia Global Research: “With financial and technology stocks strengthening the Indian markets, there are chances to witness a decisive breakout above 15,900 today.”
Representational Image(Photo: Getty)
Healthy pick-up in IT stocks as well as supportive domestic cues pushed India’s benchmark equity indices higher during the morning trade session on Thursday.
Accordingly, both the key indices opened in the green and maintained their northward trajectory.
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In the domestic market, among sectors, IT stocks gained the most.
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Consequently, the BSE Sensex traded at 53,132.45 points, higher by 228.40 points or 0.43 per cent from its previous close.
The Nifty50 on the National Stock Exchange traded at 15,914.95, higher by 61 points or 0.38 per cent from its previous close.
“Indian markets opened higher on July 15 and edged up in early trade. IT and Capital Goods stocks continue their momentum carried forward from the previous day while Oil & Gas index is under some pressure. Asian stocks continue to be mixed this morning,” said Deepak Jasani – Head of Retail Research at HDFC Securities.
“The intra-day trend of Nifty is mildly positive. Move towards the previous high of 15,915 is likely but it could face resistance around there.”
According to Likhita Chepa at CapitalVia Global Research: “With financial and technology stocks strengthening the Indian markets, there are chances to witness a decisive breakout above 15,900 today.”
“Nifty has a crucial support placed at 15,700 whereas it might witness resistance around its psychological resistance level of 16,000.”
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