Mr. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty closed at its all time closing high on Nov 24, while Sensex touched all time high. Overnight positive cues from the US led to this bullishness. A late surge post 1450 Hrs resulted in Nifty closing 1.19% or 216.9 points higher at 18484.1. Volumes on the NSE were however subdued while advance decline ratio surged to 1.46:1. Broad market indices underperformed. IT and Oil & Gas stocks did well on rotational buying. Global stocks edged up in the wake of Federal Reserve minutes that revealed most policymakers expect to slow the pace of interest-rate increases. Nifty could now head towards its all time high of 18604 while 18325-18410 band could provide support.