Street Signs: Bulls in charge but 24,200 holds key, Santar GMP at 40%

Ahead of its initial public offering, shares of Sanstar are trading at a premium of 40 per cent in the grey market

Bulls in charge, but can 24,200 break their stride?

The benchmark National Stock Exchange Nifty has now posted gains for six straight weeks, marking its best weekly winning streak since December. As markets trade at new highs, technical analysts are unable to pinpoint any resistance levels on the upside. However, should the Nifty slip below 24,200, things could take a turn for the worse. “Despite the markets appearing overbought by various measures, there are no signs of weakness, and bulls remain in control, supported by sector rotation. For the Nifty, close attention needs to be paid to