A morning walk down Dalal Street on July 25, 2018
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Moneycontrol News
Bulls overtook D-Street for the second consecutive day in a row as Sensex hit a fresh record high of 36,902.06 on Tuesday while Nifty is just 40 points shy of its fresh record high.
The index is likely to face stiff resistance around 11,171 levels and 11,200 levels.
The volumes are also on the rise, which indicates that the rally is likely to sustain at higher levels. The overall structure suggests that the index is set for the extension on the upside.
What came as a pleasant surprise was rally in the broader market| The S&P BSE Midcap index rose 1.7 percent while the S&P BSE Smallcap index rose 2.2 percent
From short term perspective, the index looks poised to march towards 11450.
On the other hand, 10,950-10,925 shall act as a crucial support zone.
Stable crude, as well as currency, is acting as a tailwind for Indian markets
On the institutional front, FPI bought Rs 104 crore in Indian equity markets while DIIs purchased Rs 513 crore .