: Share Market Closing Bell: Sensex jumps 443 points, Nifty closes above 17,650 points #IndiaNEWS #Business Dalal Street ticks up despite rising rates environment from the global central banks and rising

Share Market Closing Bell: Sensex jumps 443 points, Nifty closes above 17,650 points #IndiaNEWS #Business
Dalal Street ticks up despite rising rates environment from the global central banks and rising inflation. However, the Indian equity market remains the best among global peers so far this month, powered by multi month highs in the Bank Nifty.
Sensex gained 0.75 percent and closed at 59245.98 and Nifty inched up 0.72 percent intraday and closed at 17665.80 levels while Banknifty advanced 0.98 percent and settled at 39805.75 levels. NSE Midcap and Small cap convincingly inched up by 0.38 and 1.22 percent respectively.

Among sectors, Nifty Media, Metal and PSU Bank inched up within 1-3 percent while Nifty MNC ended marginally lower. In Nifty stocks, HINDALCO, JSWSTEEL and NTPC were the top gainers while NESTLEIND, BAJAJAUTO and BRITANNIA were the prime laggards.
Technically, Nifty has formed a bullish candlestick on the daily timeframe. Bears remain in trap as 17500 levels are sustained. Also volume profile indicates these levels are strong support for coming days. Index has managed to hold the middle Bollinger in the daily chart too. Stock specific action would drive the market in coming days too.
On the derivatives front, the highest call OI in Nifty is at 18000 strike price followed by 17800 strike prices while on the put side, highest OI is at 17500 strike price. On the other hand, Bank nifty has support at 39300 levels while resistance is placed at 40500 levels.
Short term investors may look upon auto ancillaries and realty sector stocks.
Today ,Market again showed surprising strength.
It indicates bulls have enough power to beat bears.keep strict stop loss specially in sell side.
Om Mehra
Technical Associate
Choice Broking
Source: Choice India

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