Short-term texture still on positive note
On the higher side, the market could rally up to 82,000-82,300. On the flip side, below 81,500 market could retest the level of 81,200-81,000
image for illustrative purpose
Mumbai: On Thursday, the benchmark index BSE Sensex registered a fresh all time high of 82,129.49 points. Sensex was up by 126 points. Among sectors, Energy index gained two per cent whereas Media and Reality indices shed over 1.75 per cent.
Technically, after a gap-up opening, the Sensex made a fresh all time high of 82,129.49 points, but witnessed a intraday profit booking at higher levels. However, the short-term texture of the market is still into the positive side.
Shrikant Chouhan, head (equity research), Kotak Securities, said: “We are of the view that, as long as the index is trading above 81,500 level, the bullish sentiment is likely to continue.”
On the higher side, the market could rally up to 82,000-82,300. On the flip side, below 81,500 the selling pressure is likely to accelerate. Below the same, the market could retest the level of 81,200-81,000.
On the higher side, above 81,800 level, the market could rally till 82,200-82,300 range. However, below 81,100 level, the sentiment could change. Below the same, market could retest the level of 80,800-80,500.
