Indian equity indices opened Monday’s trading session on a higher note. The NSE Nifty 50 opened 97 points or 0.37% higher at 26,064. The BSE Sensex opened 302 points or 0.36% higher at 85,232.
The Bank Nifty opened 178 points or 0.30% higher at 59,247. Similarly, the small and mid-cap stocks opened in the green. The Nifty Midcap opened 154 points or 0.26% higher at 60,465.
“Nifty index is witnessing a pullback rally from the price support of 25,700 levels. Cross and sustenance above 26,060 levels will confirm the breakout from “Double Bottom” formation on the daily chart that might take it around its all-time highs, i.e. 26,325 levels in the short term. Options data has turned slightly positive, having immediate support around the 25,850-25,800 zone and resistance around the 260,60 levels,” said Vipin Kumar, Assistant Vice President of Technical Research at Globe Capital.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Infosys, Shriram Finance, Wipro, Tech Mahindra, and Hindalco Industries. On the flip side, the key laggards in the Nifty 50 pack included IndiGo, Asian Paints, Power Grid Corp, SBI Life Insurance, and Nestle India.
Major movers on Monday
The stocks that were the major movers in the opening trade included Infosys, Axis Bank, State Bank of India, Shriram Finance, and Reliance Industries, which were the major movers in the morning trade.