scorecardresearch
Bulls vs Bears: Here's what to expect on Dalal Street today 

Bulls vs Bears: Here's what to expect on Dalal Street today 

Sensex climbed 37.87 pts to 60,298 and Nifty gained 12 pts to 17,956 in the previous session.  

Market cap of BSE-listed firms rose to Rs 280.57 lakh crore.   Market cap of BSE-listed firms rose to Rs 280.57 lakh crore.  

Sensex closed above the 60K mark for the second consecutive session on Thursday despite negative global cues. Sensex climbed 37.87 points to 60,298 and Nifty gained 12 pointts to 17,956.  

Of 30 Sensex stocks, 15 ended in the green. Mid-cap and small-cap indices on BSE gained 104 points and 95 points, respectively. 

Banking and capital goods stocks were the top sectoral gainers with their BSE indices zooming 305 points and 282 points, respectively. 

Market breadth was positive with 1,905 stocks ending higher against 1,489 stocks falling on BSE, while 146 shares were unchanged. 

Market cap of BSE-listed firms rose to Rs 280.57 lakh crore.  

Here's a look at what analysts said about the direction the market is likely to take today. 

Deepak Jasani, Head of Retail Research, HDFC Securities  

"Nifty made a double top compared to the previous session but ended marginally higher. Large volumes and range move mean that a lot of churning seems to be happening between sectors and stocks. With no reversal signs on the horizon, Nifty could rise towards 18,115 over the next few sessions. On the other hand, a breach of 17,833 could mean faster downsides." 

Nagaraj Shetti, Technical Research Analyst, HDFC Securities  

“A sustainable move above 17,900-18,000 levels in the short term is expected to open next upside target of 18,500-18,600 levels in the coming week. Crucial supports to be watched are at 17,760 levels.” 

Palak Kothari, Senior Technical Analyst, Choice Broking 

“The momentum indicator MACD was trading with a positive crossover on a daily time frame which suggests strength in the counter. The support for nifty has shifted around 17,800 levels while on the upside 18,100 may act as an immediate hurdle. On the other hand, Bank nifty has support at 39,000 levels while resistance at 40,000 levels. Overall, the index is looking strong crossing above 18,000 marks will add more strength to the counter and head towards 18,200 levels.” 

Also read: Wall Street slips as weekly jobless claims edge lower

Also read: Sensex ends above 60K for second straight session, Nifty holds 17,950; banking shares gain