A morning walk down Dalal Street | Market is in a strong trend, maintain buy on dips approach
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India market recouped losses and formed a bullish candle after three consecutive bearish candles. The S&P BSE Sensex rose by over 200 points while Nifty50 climbed 11,400 on Tuesday.
Indian market remained shut on Wednesday on account of Independence Day.
The buying was seen across the board, but Pharma and IT stocks were the major gainer's thanks to fall in rupee which breached Rs 70/USD.
Crucial support now placed at 11,340 while on the upside 11,478 and 11,495 are crucial support zone to be watched out for.
The market is in a strong trend and hence, one should not get carried away by such in between hiccups and maintain buy on dips approach.
PMs Address to the nation had something from everyone: He announced a permanent commission for women in the armed forces and vowed to launch India’s first manned space mission by 2022.
He also announced that the Pradhan Mantri Jan Arogya Abhiyan (PRAJAA), billed as the world’s largest state-funded health insurance programme benefitting 500 million people, would be launched on September 25.