On Monday, the bullish streak continued in the stock market. Sensex and Nifty again hit new record highs today. Sensex today rose 436 points to hit an all-time high of 84980 and finally closed at 84928 after rising 384 points. Nifty rose 187 points to 25954 intraday. After registering an all-time high level, it finally closed at 25917 after a jump of 150 points. The Bank Nifty surged 702 points intraday to hit an all-time high of 54252 and finally closed up 521 points at 54072.
In the stock market, Sensex and Nifty have managed to close at historic highs with attractive buying in metal, auto, realty, pharma, banking shares. Expectations to increase the purchase of vehicles across the country due to good rains in the country were again selective buying of funds in automobile stocks. Global stock markets have seen a boom. Due to this, foreign investors have increased their investment in the Indian stock market as well. On Friday, FII registered a record purchase of Rs.14068 crore. On the back of all the positive factors, Sensex and Nifty have seen gains.
After the record rally in the Indian stock market, the forex reserve of the country has also seen a record achievement. As a result of continuous inflow of foreign funds, the forex reserve level of the country has increased by $66.26 billion in the current year, as a result of which the forex reserve level has also reached a record level of $689.46 billion. At the end of 2023, the forex reserve level was $623.20 billion, which increased to $689.46 billion by the end of September 2024. has been
Top gainers in today's trade include Torrent Pharma, Mahindra & Mahindra, Indigo, Larsen, Kolpal, Havells, Shriram Finance, Reliance, Hindustan Unilever, Infosys, Kotak Mahindra Bank, Sun Pharma, HCL Technology, Bharti Airtel, Tech Mahindra, Adani Ports, Bata India. , Jindal Steel, JSW Steel, DLF stocks have increased. Today's top losers Grasim, ACC, Lupine, Cipla, Sun Pharma, EPCA Lab, Aurobindo Pharma, Axis Bank stocks have decreased.
Out of total 4233 scrips traded in BSE, the number of losers was 1731 and the number of gainers was 2382, 120 stocks saw no change in price. While 01 stocks had only seller bearish lower circuit against only buyer bullish upper circuit in 10 stocks.
Nifty Future Technical Levels Nifty Future Close :- ( 25917 ) : On the next move, Nifty futures are likely to touch the crucial level of 25979 points to 26008 points, 26088 points, with respect to trading first of 25808 points and crucial strong stoploss of 25676 points. Positioning cautiously around 25676 points.
Bank Nifty Future Technical Levels Bank Nifty Future Closed :- ( 54058 ) :- The next swings are likely to see the Bank Nifty Future touch the all-important levels of 53979 points to 53808 points, 53676 points with respect to the first of 54373 points and the all-important strong stoploss trading of 54404 points. Positioning cautiously around 54404 points.
Specific technical level regarding future stock Lupine Limited (2183) :- The share price of this company, the leader of the Lupine Group, is currently trading around Rs.2144. Buyable with a stoploss of Rs.2130, this stock is likely to register a price of Rs.2203 to Rs.2213 in a short period of time…!! Bullish focus on Rs.2220.
Kotak Mahindra Bank (1933):- As per technical chart positive breakout around Rs.1890…!! The buyable stock is likely to touch Rs.1953 to Rs.1960 with support of Rs.1873.
TVS Motors (2845) :- According to the technical chart, this stock of the 2/3 wheelers sector has the possibility of a target price of Rs.2808 to Rs.2787 with a profitable sell around Rs.2888. Consider a trading stoploss of Rs.2909.
Muthoot Finance (2026):- Registering an overbought position around Rs.2058, this stock is sellable with a stoploss of Rs.2064..!! It is likely to show the price of Rs.2002 to Rs.1986 in a phased manner…!! Above Rs.2088 will look bullish.
Future direction of the market… Friends, the US last week surprised global markets with an unexpected half-percentage-point cut in interest rates, which has again attracted high-interest-earning foreign funds to stash their funds in the relatively high-returning markets of developing nations, including India. That is, the US The Federal Reserve's half-percent interest rate cut has been a boon for India in terms of inflow of funds. Sensex and Nifty have created new history as Indian markets continue to post record highs. While returns in small, mid cap stocks have declined, it is clear that funds, players have eased their investments by taking chances in many stocks. So it is advisable to keep booking profits in stocks that have increased in this record boom. It will be imperative to invest very limitedly in stocks with elite good fundamentals.
Indian markets will be watching the visit of Prime Minister Narendra Modi to America in the coming days amid global trends, geopolitical tension. Foreign investors are expected to see inflows in selected sectors in India, especially in the IT sector, the interest of foreign investors may increase. The US Fed policy has been released. Investors will then watch the results of the other three central banks, namely the BOJ, BOE and China. The historical rally seen in Sensex, Nifty has actually led to more index management through frontline, index stocks.
The author is a SEBI registered research analyst and proprietor of Investment Point.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
