Sensex crossed 80000; Nifty settled the day at a record high of 24,286.50
FinTech BizNews Service
Mumbai, July 03, 2024: Sensex has crossed 80000, an another milestone, for the first time. Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates, shares his views on the historic development: Indian equities rose to all-time highs on Wednesday, led by HDFC Bank, which jumped to a new high amid hopes of a rise in its weightage in a major global index. Finally, Nifty settled the day at a record high of 24,286.50. Technically, the index has broken the 24,200 barrier and formed a doji candlestick pattern. Furthermore, the index is forming a higher-top, higher bottom pattern, indicating an uptrend. As long as index holds support of 23,990, it may attempt to test the levels of 24,500-24,600.
Nifty Bank also reached a record high of 53,256.70 in the morning trade, driven by HDFC Bank, and then witnessed some profit booking on higher levels. Finally, Nifty Bank settled the day on record high at 53,089 levels. From a technical standpoint, the index is consolidating in the band of 52,000-53,200. If the index sustains above 53,200, then rally could extend towards 54,000-54,200 levels.
