Markets action for the day

Markets action for the day

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a gap-up opening for the index in India with a 40 points gain.

Sensex closed 1030 points, or 2.07 percent, higher at 50,781.69 while Nifty jumped 274 points or 1.86 percent to 14,982. BSE Midcap and Smallcap indices closed 0.77 percent and 1.08 percent higher, respectively.

Markets have respected the 20DMA averages and a firm grip on them. The index now is about to reach all times high once again and would see short covering from the majority of call writers seen at 15,000. The take out on the 15k mark in today’s session can be another 100-200 points move on the Index.

Nifty Bank is on its important mark towards 40,000 odd levels soon. With a big decision from the Govt., announced by the FM , can take Banking stocks at record levels soon.

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