Nifty breaks 24,300 resistance, gains 125 and Sensex rises 419
Nifty 50 was up 125.20 points at 24,480.00 on Monday, breaking through a tough resistance zone (24,300-24,400).
Sensex also had a good day, up 419.40 points at 78,912.94, even with global tensions like the U.S.-Iran conflict in the background.
Dr. VK Vijayakumar from Geojit Investments pointed out that mid-cap and small-cap stocks did even better, though Nifty is still about 4% below where it was before the recent conflicts.
Analysts expect Nifty 24,800-25,000
Analysts say this breakout could push Nifty toward the 24,800-25,000 range.
Sudeep Shah from SBI Securities sees strong support around 24,250-24,320 and says if that holds, momentum looks positive.
Ponmudi R from Enrich Money flagged 24,240 as a key level to watch, if Nifty keeps rising above 24,560, 24,700 could signal even more bullish vibes ahead.