Podcast | A morning walk down Dalal Street: Nifty needs to hold 10,800 for further upside

What a day it has been for equity markets – Sensex is now on the verge of reclaiming 36,000 while the Nifty50 is back above 10,850 levels, thanks to solid global cues.

Global shares hit a two-week high as favorable US jobs data lifted risk appetites. The India VIX was down 0.30 percent as overseas investors set aside concerns about escalating trade tensions between US and China. 

On the sectoral front, heavy buying was seen in banking, healthcare and metals stocks. All the sectoral indices on the National Stock Exchange (NSE) closed the day with strong gains 

Nifty has closed above the 10,840 mark trend line resistance, which can pave the way for the benchmark to look forward for next crucial level of 10,893. Well, a close above this would mean that the Nifty can scale a new high in the next 1-2 months if the momentum sustains, experts suggest.