A sustainable move above 15260 could pull Nifty towards new upside of 15400-15500 levels in the near term, according to technical analysts.
Resuming their upward trend, Sensex and Nifty closed higher on the weekly expiry yesterday. On the charts, Nifty could surge higher with strength. “The two days consolidation movement seems to have ended and the bulls are now ready to make a comeback in the market. One may expect further upside towards 15257 and higher in the next 1-2 sessions,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. He adds that a sustainable move above 15260 could pull Nifty towards new upside of 15400-15500 levels in the near term, whereas immediate support is placed at 15050.
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BPCL: DIPAM Secretary Tuhin Kanta Pandey has said that the government is targetting to conclude the strategic sale of BPCL in the June quarter of the next fiscal year. The second-largest fuel retailer, BPCL, has received three bids for a controlling stake.
Results today: Bharat Forge, Glenmark Pharma, Grasim Industries, Anant Raj, Apollo MicroSystems, Apollo Hospitals, Bharat Dynamics, Embassy Office Parks REIT, Dilip Buildcon, GMR Infrastructure, PC Jewellers, NALCO, HAL, Indiabulls Housing Finance, among others will report their third-quarter earnings today.