Good Evening Everyone, What a day it was! Just as we had discussed in our last meet, Indian markets have reached a one of its kind league where it is not dependent on the US markets or Asian markets and today went to hit its all-time high and closed above 17500 today.
The market opened flat at 17386 and went on a big bull run to a record high and closed at 17532.7. Most of our portfolio is standing with a great profit.
It was interesting to note that, being September, which is generally a weak month, still the market rose up and closed at a record high.
I was expecting this move only next month as I have been telling earlier, but then with such movement, we might see 18000 soon.
The most interesting thing to note is that today, the market bigwigs like Reliance & HDFC bank were weak today and still the market closed high. Imagine, when Reliance & HDFC bank goes up, what will happen?
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On the daily chart, Nifty has formed a bullish candle which shows that Bulls are still in power.
SBIN lead the sector of PSU banks with huge bullishness and then followed by huge power from IT, lead the Nifty to a record high.
Top gainers were from the Energy sector, lead by NTPC up by 7.46% and the telecon sector was lead by Bharti Airtel as the Govt has decided to support the segment, which was great news.
Profit booking was seen in the FMCG sector lead by Tata consumers, Nestle, Britannia & ITC. Also, profit booking was seen in Realty sector stocks like Grasim, Asian paints, Ultra cemco, and so on. Let's look forward to an interesting expiry tomorrow.