Markets At All Time High

Stock Market News: The BSE Sensex soared 1,500 points today to hit a fresh record high of 84,694.5 intraday. The Nifty50, too, saw robust gains of 433 to it a new high of 25,849

The fastest 5,000-point rally for the Sensex was nearly three years ago (September 24, 2021) when the index hit an intraday high of 60,333 in a span of just 28 trading days

The pockets of the market in which excess exuberance can be seen will undergo a reality check of earnings and valuations, said Gautam Sinha Roy of ICICI Pru Life Insurance

The range breakout in both the indices have triggered fresh upside

The counter may struggle to cross Rs 2,800-mark, which appears to be the next hurdle, but the current momentum is not suggesting any weakness.

For the S&P BSE Sensex and the Nifty50, the 200-DMA is placed at 60,570 and 17,947 levels.

The Nifty financial services index is poised to rally in the direction of 20,700 - 20,900 level, delivering an upside of 5 per cent.

Closing Bell on June 22, 2023: The S&P BSE Sensex hit a fresh record high of 63,602 in intra-day trades on Thursday

Closing Bell on June 20, 2023: Afternoon buying in Tata Motors, HCL Tech, Kotak Bank, RIL, Power Grid, Infosys, L&T, Axis Bank, TCS, and Tech M lifted the indices

Every minor correction may see addition of long positions, say experts

Shares of IDFC First Bank, IndusInd Bank, Bandhan Bank, and Axis Bank may surge up to 15 per cent, show technical charts.

if the Nifty Midcap index succeeds to absorb selling pressure emerging at current level of 33,000 mark, the probability of breaking out over the previous historic peak of 33,245 becomes more plausible

So far this year, Persistent Systems is the top contender surging close to 30 per cent, while Infosys remains as the top loser, plunging 14 per cent.

Coal India, Hindustan Aeronautics and GAIL (India) have chart structures suggesting further upside of up to 20%

The FMCG index has risen 10 per cent since the start of the current year, with ITC, Nestle India, Radico Khaitan, and Varun Beverages zoomed 31 per cent, 12 per cent, 11 per cent and 10 per cent each

Following a sharp reversal at the end of the April series, the BSE Sensex and Nifty 50 took a breather near to their respective the 200-day moving average (DMA) before offering the next leg of upside

Metals, state-owned oil marketing companies, and export/global economy-linked sectors may not see any meaningful rally

Global stock markets jumped on Thursday after minutes of the US Federal Reserve's November policy meeting hinted at a possible moderation in the pace of interest rate hikes

Sensex has shrunk 1,372 points or 2.29 per cent to 59,015 and Nifty50 shed 425 points or 2.3 per cent to 17,561 so far from their recent highs

The NSE Nifty Bank can rally to the 40,000-mark, after it successfully conquers its 200-DMA.