A Morning Walk Down Dalal Street | Move Above Resistance of 10780 Indicates Bullish Bias But Concerns Remain

Sensex jumped by over 450 points to reclaim Mount 36K while Nifty saw a rally of over 100 points to close above 10850.

From expiry to expiry perspective, Nifty rose more than 7 percent to post its highest single series gain since March 2016. 

Nifty rollovers stand at 71 percent which is higher than the 3-month average of 68 percent, but lower than November series rollover of 75 percent.

Well, after around 18 trading sessions of a range bound move, the market has finally broken on the upside. 

The Index has managed to move past the resistance band of around 10780 and also its 200-DMA, onto the range of 10850-10950.

This certainly indicates a bullish bias; however, the broader markets are a cause of concern, highlights experts.