The market rallied more than 1.5 percent on September 28, in addition to nearly 3 percent gains seen in the previous session. The hope of a stimulus package and measures by the government to boost the economy lifted sentiment.
The buying continued across sectors with Bank, Auto and Metal indices rising 3 percent each.
The BSE Sensex climbed 592.97 points or 1.59 percent to close at 37,981.63, while the Nifty50 rose 177.20 points or 1.60 percent to 11,227.50 and formed a bullish candle on the daily charts for the second consecutive session.
"A long bull candle was formed with opening upside gap and the said up gap remains unfilled. This is a positive indication and if this gap remains unfilled for the next 2-3 sessions, then that could mean more upside for the near term," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.