{"id":58455,"date":"2020-06-03T19:46:14","date_gmt":"2020-06-03T14:16:14","guid":{"rendered":"https:\/\/Thenews21.com\/?p=58455"},"modified":"2020-06-03T19:46:15","modified_gmt":"2020-06-03T14:16:15","slug":"market-outlook-nifty-reclaims-10k-charts-indicate-a-likely-pause","status":"publish","type":"post","link":"https:\/\/thenews21.com\/market-outlook-nifty-reclaims-10k-charts-indicate-a-likely-pause","title":{"rendered":"Market Outlook: Nifty reclaims 10K, charts indicate a likely pause"},"content":{"rendered":"\n
Mumbai<\/strong>: The markets continued their north-bound journey for the sixth straight trading session largely led by financial stocks. However, unlike yesterday the markets on Wednesday witnessed some profit-taking at higher levels owing to which the benchmark indices pared a decent amount of gains. The BSE benchmark index, the Sensex, touched an intra-day high of 34,489, but pared gains towards the close and settled at 34,110 – up 284 points from the previous close.\u00a0<\/p>\n\n\n\n Among the Sensex 30 stocks, Mahindra & Mahindra was the top gainer, up nearly 5 per cent. Kotak Mahindra Bank, Bajaj Finance, SBI, Nestle, ICICI Bank, ONGC and HDFC Bank were the other prominent gainers, up 2-3 per cent each. On the flip side, NTPC was the top loser with a decline of over 2 per cent. Bharti Airtel, Maruti, Hero MotoCorp and Infosys were the other notable losers.<\/p>\n\n\n\n With today’s high at 34,489, the BSE index has now also given a buy signal on the monthly Fibonacci charts. As per the monthly charts, the bias for the remainder of the month is likely to remain bullish with strong support expected around 33,050-32,850 range. In other words, in case, there is a correction in the market the BSE index is likely to find strong support in the above mentioned range. On the upside, the BSE index may now target 35,440 and 37,200-odd levels in the near term.<\/p>\n\n\n\n