January 2,2021 New Delhi,
Domestic equity indices continued to march higher during the bygone week as they marked the end of the year and the beginning of a new one. S&P BSE Sensex now sits at 47,868 points while the broader 50-stock NSE Nifty is at 14,018 points. Sensex gained 607 points or 1.29% in the last five trading sessions while Nifty added 155 points or 1.12%.Inflows from FII continued to inch higher this week.
Nifty closed above 14,000 on Friday for the first time ever in history. “The market is continuing to trend higher as bulls are not considering loosening their grip on the short term trend,” said Nirali Shah, Senior Research Analyst, Samco Securities. “The low point of Doji pattern i.e. 13860 can be watched as immediate support and any break below the same can be taken as a cautionary sign for mild profit booking as the market is sitting on heavy gains. Until then traders are suggested to maintain a bullish bias,” she added.