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After 8 weeks of long consolidation, the benchmark index finally confirmed its breakout in Tuesday’s trade by opening higher with a decent gap. Subsequently, the momentum accelerated further, with the Nifty surpassing the 11,000 mark. It rallied to 11,078.30 in Thursday’s session.
In the last hour of trade, market participants decided to take some profit off the table which had a rub-off effect as the Nifty erased some of its intraday gains. It however managed to hold on to 11,000 levels on a closing basis.
The benchmark indices is a few points away from its all-time high. However, there are certain pockets which are still trading near its 52-week low.
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