A morning walk down Dalal Street | Nifty to face stiff resistance around 10,400-10,500

It looks like it was early Diwali celebration on D-Street. Sensex rallied by more than 700 points while Nifty reclaimed 10,200 levels.

The final tally looked like – Sensex closed 718 points higher or 2.15 percent at 34,067 while the Nifty50 rose 220 points to end at 10,250. 

Positive global cues, fall in crude oil prices, rally in index heavyweights supported market sentiment.

All the sectoral indices closed in green. Individually, pharma, realty, capital goods, PSU as well as energy stocks rose 3-4 percent. 

Technically, support at placed at 10,000 while on the upside 10,400-10500 will act as stiff resistance.