Bank Nifty finally surpassed its life time high of 27,652 and made a new life time high of 27,661 levels. It formed a strong Bullish Candle on daily as well as weekly scale.
Bulls roared at Dalal Street on Friday as follow up buying helped frontline indices end at record closing highs. The Nifty50 after opening higher remained on upward path throughout the session, forming robust bullish candle on the daily candlestick chart as well as weekly chart.
All sectoral as well as broader indices participated in the rally barring PSU Bank. FMCG and Metal indices were the biggest gainers, rising 2 percent each while the Nifty Midcap index was up 0.9 percent.
The 30-share BSE Sensex, which hit record high for the 21st time in 2018, closed 352.21 points higher at 37,336.85, driven by ITC which was the biggest gainer with 5 percent rally after Q1 earnings.
It was a strong start to the August series as the Nifty50 after opening higher at 11,232.75 rallied sharply to hit fresh intraday all-time high of 11,283.40. The index, which did not fall below the 11,200 levels today, closed 111.10 points or 0.99 percent higher at 11,278.40.
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Source: https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-robust-bullish-candle-upside-may-extend-up-to-11480-2772721.html
