Sustained buying activity across the board pushed the indices to day’s highs. IT, realty and capital goods stocks led the upmove while profit booking was seen in FMCG and auto stocks. Traders tooks cues from the positive opening of European markets.
“We will watch the level of 5275/17640 as a major hurdle for the market and its failure to sustain, will result
into short-term weakness. On the other side, the level of 5235/16480 may act as a support for the day and dismissal of the same in the second half will certainly push the market towards the psychological support area of 5200/5180. Aggressive long traders can create few long positions in select stocks between 5200 and 5180 levels,” said Kotak Securities report.
At 1:10 pm, Bombay Stock Exchange’s Sensex was at 17646.69, up 118.92 points or 0.68 per cent. The index touched intraday high of 17658.57 and low of 17555.04.
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