The clear cut win for the UPA government (having a lead by 262 seats), shrugging off exit polls results, will bring the cheers for the markets today. There are full chances that the benchmark indices will hit the circuits in the beginning trade.
The SGX Nifty was up 425 points, in the early trade.
The market would hit upper circuit if the Sensex goes up by 975 or the Nifty up by 300 points. The second circuit would be if the Sensex rises by 1450 or the Nifty gains by 450. Circuit breakers trigger on the basis of quarterly closing values.
The SGX Nifty was up 425 points, in the early trade.
The market would hit upper circuit if the Sensex goes up by 975 or the Nifty up by 300 points. The second circuit would be if the Sensex rises by 1450 or the Nifty gains by 450. Circuit breakers trigger on the basis of quarterly closing values.
Rakesh Jhunjhunwala, Trader & Investor said,
"The real resistance on the Nifty is at 3800, I won't be surprised if during the course of the year the Nifty 4500-4600 and it's quite posible."
Manish Chokhani, Enam Securities said,
"The hope was that this market will correct and give people a chance to re-enter, and like you had the 8000-10000 band then people reconciled to 10000-14000 and now that band is going to go to 12000-16000."
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