The BSE Sensex made a late surge during the day (July 21) by profiting more than 200 points at close. The market was trading on a strong note amidst volatility.

Indian equities, expanding the dream rally of Friday, opened positively following firm worldwide cues. But the stock market was not capable of holding its head high in positive zone and shortly slipped into the negative terrain on concern of continuing political havoc in the country.

The 30-share Index, Sensex on Monday (July 21) opened at 13,782.13, up 146.43 points from the Friday’s closure.

BSE Midcap gained 0.34%, while Smallcap index fell 0.28%.

The major contributors in the upward rally were Cipla, HDFC Bank, Ranbaxy, NTPC, ICICI Bank, Maruti, Jaiprakash Associates and SBI.

Finally, the Sensex closed the day after making a gain of 214.64 points at 13,850.04, while the broad-based NSE Nifty ended the day at 4,159.50, up 67.25 points.

Stock market analyst, Vishwas Agarwal said, “Tuesday is very important day for Indian politics as no one knows the result of confidence motion. Hence market fate is totally depended on the confidence motion outcome.”

Mr. Agarwal suggested investors to wait for the outcome of confidence motion and not to enter the stock market until the result of N-deal is known, as it is unsafe to enter the stock market at the moment.

Technical analyst, Suresh Iyer said, “Nifty is expected to continue its positive momentum based on the chart. Tomorrow is a crucial day as the government is facing the confidence motion. Some knee jerk reaction can be seen after the outcome of the confidence motion, the reaction can be seen on Wednesday as only after market hours we will come to know if the government has survived or not.”

He said that the stock specific action could be seen in the market on Tuesday (July 22), but general participation is expected to be less.

Nifty has support levels at 4,110, 4,072, 4,040, 3,999, and 3,919. Nifty has resistance at 4,215, 4,241, with stiff resistance at 4,264 and 4,315, he said.