The Indian fairness benchmarks rose for third session in a row on Wednesday paced by beneficial properties in info know-how, metallic and pharma shares. The benchmarks staged a spot up opening whereby the Sensex rose as a lot as 405 factors and Nifty 50 index briefly moved above its vital psychological degree of 14,200. However, the benchmarks got here off intraday highs in midday offers on the again of weak point in index heavyweights like Reliance Industries, HDFC Bank and Kotak Mahindra Bank.
The Sensex ended 254 factors or 0.5 per cent greater at 51,280 and Nifty 50 index climbed 76 factors or 0.51 per cent to shut at 15,175.
“Nifty 50 Index ended below the resistance level of 15,250. The expected level should range between 14,900 and 15,250, and it is going to crucial for the short-term market scenario to stay above 14,900. While it is subject to further price action evolution, It is suggested prudent to wait for a decisive breakout above 15,250 and technical factors to improve before going long in the market. The traders are advised to refrain from building a new buying position until further improvement,” Ashis Biswas, head of technical analysis at CapitalVia Global Research mentioned in a press release.
