Nifty ended above the important mark of 10,000 for the first time after August 7, 2017. Nifty closed at 10,006 level, up by 71 points, while Sensex closed at 31,882 level, up by 194 points. Private bank stocks like IndusInd Bank, Yes Bank and HDFC bank were the top contributors to the gains of major indices, Nifty and Sensex. Finally, the Nifty50 index manages to pierce its strong resistance of 9,980-10,000 on closing basis, now going forward buying momentum is likely to continue. On the upside, the level of 10,060 and 10,080 may act as a resistance zone, whereas, on the downside, the level of 9,970-9,980 may act as an immediate support zone. Nifty September future ended at a premium of 19.85 points as compared to a premium of 15.20 points in the last trading session. On the options front, Nifty September 10,000 PE has seen addition of 10.31 lakh shares in open interest while Nifty September 10200 CE has seen addition of 4.95 lakh shares in open interest. However, the maximum open interest is seen in Nifty September strike 9900 PE of 56 lakh shares and 10200 CE of 36.56 lakh shares.
Taking a positive cue from global markets, the key domestic benchmark indices are likely to extend gains on Tuesday. The SGX Nifty, which was trading at 10,055, suggests that the Nifty could gain around 30 points at the opening bell.
Finally, the Nifty50 index managed to pierce its strong resistance of 9,980-10,000 on a closing basis. Now, going forward, buying momentum is likely to continue. On the upside, the levels of 10,060 and 10,080 may act as resistance zones, whereas on the downside, the levels of 9,970-9,980 may act as an immediate support zone. Back home, Indian market ended the trading session on Monday with robust gains owing to positive global peers. The Nifty settled above the magical five figure mark of 10,000 and the BSE Sensex surged 195 points to finish at 31,882. IndusInd Bank and Bharat Financial Inclusion rose 5.6% and 3.5%, respectively. The US stock market indexes closed sharply higher on Monday, with the benchmark S&P 500 ending the session at an all-time high. The strength on Wall Street was seen as the impact of Hurricane Irma was not as severe as many had projected. The Dow Jones Industrial Average surged 260 points to close above the important psychological 22,000-mark. The Nasdaq Composite Index rose 72 points to finish at 6,432 and the S&P 500 rallied 27 points to close at 2,488. Asian markets' benchmarks were mostly higher in early trade on Tuesday following gains on Wall Street. The Japan’s Nikkei 225 has gained 0.99%, whereas Hong Kong's Hang Seng and China’s Shanghai Composite are trading flat.
