Ahead of Market: 10 things that will decide D-Street action on Friday
The Nifty 50 closed 0.81% higher at 26,216 points, while the BSE Sensex surged 0.78% to 85,836.
Over the past six sessions, the blue-chip indices have gained 3.3% and 3.5%, respectively, following a significant rate cut from the Federal Reserve on Wednesday, which boosted expectations of higher foreign inflows into emerging markets like India.
Here's how analysts the market pulse:
«On the daily charts we can observe that the Nifty is heading towards the upper end of the rising channel 26,560. Divergence on the momentum indicator suggests that caution should be maintained on the longs. Until there is evidence of weakness on the price front, we shall continue to ride the uptrend with a trailing stop-loss mechanism which should be maintained with 26,000,» said Jatin Gedia of Sharekhan.
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