Late buying helps the market end in positive territory after intraday volatility; oil and gas stocks record their gains

Stock indices closed positively after a volatile session. It was a volatile day after a positive opening index hit an intraday high at the 17,905 level, but showed a reserve of earnings from a higher level as an intraday low at 17,704 levels. , 55 and managed to close the session at the 17,812.70 level with a gain of 66.80 points. While Bank Nifty closed the session at the 37739.60 level with a gain of 249.35 points.

At the close, the Sensex was up 142.81 points or 0.24% to 59,744.65. Nifty gained 66.80 points or 0.38% to 17,812.70. About 1,910 shares rose, 1,235 shares fell and 78 shares are unchanged.

At the sector level, sales were observed in automotive, capital goods and pharmaceuticals stocks, while purchases were seen in banks, FMCGs, IT and petroleum and the gas. Stocks like Grasim, ONGC, Hindalco and Shree Cements were the main winners. M&M, BAJAJFINSV, BAJFINANCE & LT were the main laggards.

Palak Kothari, Research Associate, Choice Broking, said: “Technically, the index traded with a higher and lower formation on a weekly chart as well as an open marubozu candlestick which suggests a rally. on the rise in the counter. a four hour chart index has formed a sort of hammer candlestick pattern which adds bullish momentum for the sessions to come. Additionally, the index traded above 21 & 50-HMA, suggesting strength in the meter. However, a MACD momentum indicator trades with a positive cross over the daily period. Right now the index has support at 17,500 levels while resistance is at 18,000 levels, a cross above the same level may show 18,200 to 18,300 levels. On the other hand, Bank Nifty has support at 36,800 levels while resistance at 38,300 levels. “

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Posted on: Friday January 07, 2022, 3:53 PM IST

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