Bizz Buzz Bureau Mumbai

Thebenchmark indices witnessed some profit booking at higher levels. The Sensex was up by 773 points. Among sectors, the PSU Bank index outperformed, rallying 2.95 per cent, whereas the Realty and IT indices witnessed intraday profit booking at higher levels.

Technically, after a strong gap-up opening, the market registered some profit booking at higher levels. On the ,” says Shrikant Chouhan, Head - Equity Research, Kotak Neo. On daily charts, it formed a red candle, but on the intraday charts, it is still holding a higher-bottom formation, which supports the uptrend.

“We are of the view that the short-term texture of the market is still positive, but we could see a quick intraday dip if the market slips below 81,500,” says Shrikant Chouhan, Head - Equity Research, Kotak Neo. Below this level, the intraday correction could continue to 81,300-81,000. On the flip side, above 82,000, the rally could continue to 82,300-82,500.