Indian stocks SENSEX and Nifty 50 start with a gap up
SENSEX started with 81,679.65 (+0.43%) and Nifty 50 with 24,943.30 (+0.44%) windows open
Pay attention to ICICI Bank, NTPC, and Dr Reddy's
After the gap up, Nifty was supported by 24,900, and continues with 24,850, and 24,800. In the high price range, 25,000 yen will be the immediate resistance, and 25,100 yen and 25,200 yen will continue.
Nifty hit an all-time high ignoring concerns about capital gains taxation and FII's oversales of 472.1 billion rupees.
Bank Nifty's chart is supported at 51,200, showing the possibility that 51,000 and 50,900 will continue. If it rises further, 51,500 will be the initial resistance and will continue at 51,700 and 51,800.
On Friday, Nifty closed at an all-time high, and there was a strong breakout. Today, Nifty could touch $25,000. If $25,000 is maintained, there is a possibility that it will rise to the 25200-25300 level. Traders holding Nifty can hold it with a trailing stop loss of 24800 on a closing price basis.
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