Rally in banking, oil and Gas sectors elevated the market Today Nifty made a robust gain. Banking Stocks boomed today and this sector remained the best today. The major factor for this rally was off-course the hike in petrol prices which let the market go up despite negative global cues.
Nifty Made significant gain of 85.75 points and closed above 4920 level. But the market still hasn't outrun the bearish trend. The Global market is still uncertain and this may cause a pull back in the Indian stock market also.
Technically major resistance for Nifty futures is still residing near 5130 level. On the downside staying below 4890 can invite the downtrend again.
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