A morning walk down Dalal Street | Volatility cannot be ruled out, use rallies to exit long positions

One thing is for sure that there was no Monday blues on D-Street. It was a powerful day for the bulls as they pushed benchmark indices above crucial resistance levels towards the close of the trade on Monday.

Approval of GST council to lower the tax rate on under construction real estate project added to the positive sentiment on D-Street. IT, banking and auto were the top contributors from the sectoral front while the broader indices managed to end marginally higher. 

The final tally – the S&P BSE Sensex closed 341 points higher at 36,213 while the Nifty50 ended at 10880, up 88 points on Monday. The big news is that with both Sensex and Nifty have turned positive for the year 2019 after yesterday's rally.

As we head towards the expiry, volatility cannot be ruled out, suggest experts and investors should use rallies to exit long positions. The rise that we have seen from the lows of 10585 is a welcome move but this is still a sell on rallies market.