The stock market broadened and saw new peaks as projected and creating history by reaching the historical 15000 mark.
Now the market is trading in blue sky territory. Technically the tendency is still unbroken and there is no symbol of failing though the stock market is in a extended terrain. The other logical technical target in the days to come is 15379.
After touching a new high at the opening time on Thursday, the BSE Sensex closed the session at 14,861.89 after losing 18.35 points, whereas the broad based NSE Nifty ended the day at 4,353.95, down by marginal 5.35 points.
Vishwas Agarwal said the stock market once again broke down to reach the psychological 15,000 mark. Conservative buying and selling of stocks could take place in the nest trading session, but the same is likely to carry on.
Mr. Agarwal added that markets still are in bulls grip.
Technical Analyst, Vijay Bhambwani is of the view that one
should hold State Bank of India (SBI) stock as it can add another Rs 60-70
within the coming days.
SBI has been a great mover and shaker. It is good for
another Rs 60-70 before some quantity of profit taking can enter.