Market News
2 min read | Updated on April 08, 2024, 17:52 IST
SUMMARY
The NIFTY50 surged above its all-time high (22,526) after a gap of almost a month and closed at the record high. The index has immediate support between 22,400 and 22,500, while resistance is expected around the 23,000 level due to the high concentration of call options expiring this week.
NIFTY50 eyes 23,000, Reliance and auto stocks drive the rally
Markets started the second week of April on a strong note led by gains in Reliance Industries and auto stocks. The NIFTY50 ended the day up 0.6% at 22,666 and the SENSEX also gained 0.6% to close at 74,742.
Top gainer and loser in NIFTY50: Eicher Motors (+3.9%) and Adani Ports (-1.6%)
Broader markets ended mixed. The NIFTY Midcap 100 closed flat, while the NIFTY Smallcap 100 advanced 0.3%.
Top gainer and loser in NIFTY Midcap 100: Nykaa (+6.5%) and Aditya Birla Capital (-0.6%)
Top gainer and loser in NIFTY Smallcap 100: Exide Industries (+16.7%) and Angel One (-0.9%)
The NIFTY50 surged above its all-time high (22,526) after a gap of almost a month and closed at the record high. The index formed a bullish candle on the daily chart and now has immediate support between 22,400 and 22,500, while resistance is expected around the 23,000 level due to the high concentration of call options expiring this week.
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