“The market is consistently holding higher high and higher low formation, which is broadly positive. Hence the support has now shifted to 18,550 from 18,450. As long as the index is trading ...
...above 18,550, the uptrend wave is likely to continue. Above which, the market could move up to 18,750-18,800,” Shrikant Chouhan, Head of Equity Research ( Retail) at Kotak Securities, said.
“Encouraging news from China has resurrected sentiments in Asia. Beijing rolled out more stimulus measures, while social media rumours suggested that the Chinese government was considering the scaling back of its anti-Covid ...
...policies. Chinese property companies rose after the securities regulator in China lifted the ban on equity refinancing for listed property firms,” Deepak Jasani, Head of Retail Research, at HDFC Securities, said.
“Continued FPI buying in India has boosted the mainline indices, which may continue to do well for the next 2 months with some ...
...intermittent corrections. 18,530 could offer support in the near term while 18,800 could be a resistance,” Hasani added.
About 1,761 stocks declined, 1,718 gained and 148 remained unchanged.