A morning walk down Dalal Street on July 26, 2018
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Moneycontrol News
A strong day for Indian markets as Sensex hit a fresh record high of 36,947.18 on Wednesday but witnessed profit booking towards the close of the session. But, it still managed to end at a fresh record closing high.
The Nifty5o closed flat with a slight negative bias and is just 40 points away from hitting a fresh record high above 11,171.
Consequently, the index posted a negative daily close after three consecutive positive sessions.
Being the expiry day: investors should brace for some volatility on either side.
Nifty rollover stand at 51% which is a healthy sign.
Historic trend suggests that the last hour of the trading is when all the action happens.
Nevertheless, overall Technical outlook continues to be in favor of the bulls.
Once the key hurdle of 11171 gets taken out, the benchmark index can march towards 11450 in the short term.
On the downside, 11030-11020 shall act as a key support zone for any minor degree dip.