Market sees 7th consecutive day gain, Nifty ends up 51 pts

It was a spectacular upmove for the Indian equity benchmarks especially for the seventh consecutive session on Wednesday.  Ahead of settlement day tomorrow, the market rode high on huge volumes. The Nifty touched the 5800 mark in an intra-day trade for the first time since January 25 but closed tad below that level.

5,900-5,950 could be an upside potential for the Nifty, says Deven Choksey, the MD of KR Choksey Shares and Securities. "The earlier expectation for the last one month that there is a possibility of 5,600-5,900 band being achieved and that was expected somewhere in April but we have achieved it before that. We are somewhere closer to that 5,900-5,950 which could be an upside potential for the Nifty."

It seems like one-sided game as bulls have completely been in favour of markets led by inflow of funds from foreign investors. FIIs have bought nearly a billion dollar worth of shares in these seven days of rally.