Sensex Has Resistance At 14963 - 15182: Abhishek Jain, StocksIdea.com
The Sensex ended the day on a positive note led by automobile, banking, IT and real estate stocks.
With strong worldwide signals, continued interest witnessed in frontline stocks and more monsoon rains hiked up the overall market reaction.
The 30-share index Sensex belled the day after gaining 72.34 points at 14,325.58 on Friday on the back of good global cues. Secondline stocks also backed the sentiment.
BSE Midcap and Smallcap index gained 2.31% and 2.44% respectively.
Among the sectoral indices, BSE Auto, Bankex, IT gained more than 4%, Real Estate zoomed 3.64%, Capital goods, Metal and Power surged more than 2% each.
Finally, the Sensex closed the day after gaining 491.68 points at 14,744.92. It also hit an intraday high of 14,800.70 and an intraday low of 14,325.58.
The broad-based NSE Nifty surged 141.45 points at 4,374.95 after touching an intraday high of 4,390.40 and an intraday low of 4,230.15.
The top gainers in the Sensex pack were Reliance Infra, Mah & Mah, JP Asso, Rel Capital, ICICI Bank, and Tata Motors.
The major losers in the Sensex included Sterlite Industries (India), NTPC, and RIL.
While commenting on the stock market outlook for the coming week, stock market analyst Abhishek Jain of Stocksidea. com said that the support for the Sensex is at 14328/113985 and the resistance to the up move is at 14963/15182.
The sensex is looking sideways for the coming days, Mr. Jain added.
For Nifty, the support is at 4318/4289 and the resistance to the resistance to the up move is at 4426/4486.