01 Aug , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty opened in the green on Monday but minutes into the day’s trade the benchmark indices slumped and turned red only to see the bulls emerge from the lows. S&P BSE Sensex was up more than 200 points or 0.38% to sit above 57,800 while NSE Nifty 50 index above 17,200, up 0.28%. Bank Nifty was in the red while India VIX zoomed 5.38%. Mahindra & Mahindra was the top Sensex gainer up 5%, followed by Maruti Suzuki India and Reliance Industries. Sun Pharma was the top laggard, accompanied by IndusInd Bank and HUL.
“Even though oscillators are overbought, zeroing in on a turnaround point is an onerous task, as continuation patterns and momentum remain dominant, suggesting that a significant fall prior to achievement of 17500 is less likely. This is the premise on which we had expressed confidence in the continuation of uptrend after the opening burst on Friday. That said, we will keep the vigil for potential withdrawal in buyers, on approach to17320 and 17045 identified on either sides of present level. Major supports are seen at 16960 and 16800/750 regions,”
Sensex trimmed opening gains and was trading flat minutes into the day's trade. Sensex was seen dancing between gains and losses while Nifty 50 was holding just above 17,150.
Sensex and Nifty rose at the opening bell. Sensex opened above 57,800 while Nifty 50 crosses 17,200. India VIX was also up 5%.
“Nifty rose 2.62% for the (last) week and 8.73% for the month (recouping the losses of the previous two months and recording the best monthly gain after Nov 2020). Nifty has risen 1975 points in the past 6 weeks. 17442-17640 could be the next resistance band for the Nifty while 16752 could be the support. Nifty could make a new high in the current week before running into correction the week after,”
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