Day trading guide for today: Following strong global market sentiments, Indian stock market ended higher for seventh straight session on Monday. NSE Nifty advanced for the seventh straight day to log the best stretch of gains in 11 weeks and touched the all time high of 20,008 levels.
While touching the landmark 20,000 levels, Nifty took 52 session to march from 19,000 to 20,000 whereas it took just 36 session to climb a new peak. BSE Sensex also regained the psychological 67,000 levels and closed at 67,127 mark, logging an intraday gain of 528 points.
Bank Nifty finished 414 points higher at 45,570 levels. Speaking on Nifty touching the landmark 20,000 peak, Ashishkumar Chauhan, MD & CEO at National Stock Exchange (NSE) said, "Nifty 50 - India’s favourite stock index reached a historic and an important milestone of 20,000 mark today.
Nifty 50’s progress over last 27 years, since it was launched at initial number of 1,000, shows is a testament to the trust Indian and foreign investors place in India’s capital markets and its regulatory, legal system to provide fair, efficient, transparent, low-cost, always available, orderly market place that is better than the best in the world and thought as well as execution leaders in the world not only in terms of trading technologies but also in corporate governance. More than 7.5 crore direct unique PAN numbers having investors are now registered with us suggesting that 5 crore households now directly invest a portion of their savings in equities market via the best in class, most automated, highly regulated markets provided by NSE consistently for several decades since its inception." On outlook for Nifty today, Nagaraj Shetti, Technical Research Analyst at HDFC Securities said,
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