Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Trade setup for Tuesday: Top 15 things to know before Opening Bell

Nifty is currently placed at the minor trend line resistance around 11,250 and this hurdle is expected to be broken on the upside by the next session, Nagaraj Shetti of HDFC Securities has said.

September 29, 2020 / 07:03 AM IST

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.