Chandan Taparia recommendations: How to trade Godrej Prop, Voltas, IGL shares on June 14?
Indian stock market: On Thursday, June 13, the Sensex and Nifty 50, India's leading stock market indices, reached new all-time highs during the session. This surge was driven by robust macroeconomic indicators, fostering optimism regarding India's economic growth prospects in the medium to long term.In the trading session, the Sensex reached a new all-time high of 77,145.46, and the Nifty 50 achieved a new peak of 23,481.05.Also read: What does Fed's indication of single rate cut mean for Indian IT stocks?By the end of the day, the Sensex concluded at 76,810.90, marking an increase of 204 points, or 0.27%.
Similarly, the Nifty 50 closed with a gain of 76 points, or 0.33%, at 23,398.90. This resulted in both indices settling at their highest-ever closing levels.“Nifty index opened positive and went on touch a fresh all time high of 23481 levels.
However, it lacked momentum and remained in a range of 127 points throughout the session. It formed a small bodied Bearish candle on daily frame and closed with gains of around 70 points.
Now it has to hold above 23350 zones for an upside move towards 23550 then 23700 zones whereas supports are placed at 23300 then 23200 zones," said Chandan Taparia, Head – Equity Derivatives and Technicals, Broking and Distribution, MOFSL.India VIX was down by 6.26% from 14.38 to 13.48 levels. Volatility has cooled off from the last six sessions and comforting the bulls at higher zones.
Option data suggests a broader trading range in between 22900 to 23700 zones while an immediate range between 23200 to 23500 levels.Bank Nifty Index opened on a positive note but remained consolidative in a narrow range of 300 points in between 49800 to 50150 zones for the entire trading session. It formed a small
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