The Indian stock market opened with gains on Friday, the last trading day of the week. The Sensex opened with a gain of 176 points at the level of 52477.19. At the same time, Nifty is trading beyond 15800. Due to positive signals from global markets and decreasing cases of corona, there is a positive trend in the market. On Thursday, the Sensex closed at 52300.47 with a gain of 358 points.
Sensex and Nifty set a new record high. The Sensex is seen at a record high after 16 February 2021. Nifty has also gone beyond 15800. Midcap index is at record high.
Global cues positive for the market
Global signals are looking positive on the last day of the week. Asia has got off to a strong start. SGX NIFTY is trading flat. Yesterday US markets closed on the rise and the S&P 500 made a new peak.strategy on nifty
Virendra Kumar of CNBC-Awaaz says that its resistance zone is 15772-15821 and the larger resistance zone is 15871-15910. Base zone is 15648-15621 and bigger base zone is 15580-15550. FII data strong, well bought in cash, stock futures will outperform.
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According to the new weekly contracts, the trending zone is now 16000-14650. After 13 days of rally, Nifty rested on 10 DEMA. Made base at 15650-610 on Wednesday-Thursday. This is the basis of long deals now. So buy in Nifty and buy every fall till first base. Due to Friday Factor, big swing is possible in the market. 15800-821 If a big resistance comes out, the shorts will get stuck.
Expect good results from DLF, BHEL
DLF’s fourth quarter results will be out today. The company can return from loss to profit. , MARGIN can also see a jump of 5%. BHEL may also face losses. A jump of more than 45% in REVENUE is possible.
gold shines again
In the US, due to higher than expected inflation, gold returned to the limelight. On COMEX, gold has again crossed $ 1900 and Brent is also trading with strength above $ 72.
More recovery than new corona cases
Yesterday 91 thousand new corona cases were reported in the country. Less than one lakh cases were reported for the fourth consecutive day. Yesterday one lakh 33 thousand patients were recovered. The number of active cases reached close to 11 lakh.
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