The markets surged higher on the back of short covering in the second half of the trade, after witnessing volatility throughout the session ahead of F&O expiry day. More or the less it was a positive day for the markets, barring few blips during the day. The Sensex crossed the 9700 level during the day while the Nifty closed below the 3000 mark.
The 30-share BSE Sensex has touched an intraday high of 9,706.47, before closing the day at 9,667.90, up 2.08% or 196.86 points. The 50-share NSE Nifty went up 1.55% or 45.65 points, to settle at 2,984.35, after hitting a high of 2996.50.
We continue to be in uptrend as far as Nifty closes above 2950.But 3000 is a strong resistence if we manage to hold above that level then the uptrend will gather momentum.Use all dips to buy.Tommorrow bieng March series F&O expiry markets could remain extremely volatile.Tommorrow also happens to be a time cycle date, if we have already topped at 3016 then the sideways consolidation would continue for next few days.
At the time of closing of Indian equities, European markets were trading lower. The FTSE was trading at 3,889, down 22 points. The CAC was trading at 2,867, down 7.5 points and the DAX was down 16 points, to 4,172.
However, the US futures were trading marginally higher. The Dow Jones Futures were up 35 points, to 7,655 and the Nasdaq Futures were up 5.75 points, to 1242
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