MONDAY 10 KEY FECTOR FOR MARKET DIRECTION
On the weekly options front, maximum Call open interest was seen at 16000, 15800 and 16200 strikes, while the maximum Put open interest was seen at 15000 strike, followed by 15700 and 15800 strikes.
The market extended gains for the fourth consecutive week, scaling fresh record highs on June 11, as a consistent decline in fresh coronavirus cases with a pick up in vaccination drive and easing restrictions by states raised hopes for faster economic recovery.
BSE Sensex finally surpassed its previous record high (seen in February) and hit a new high on Friday, rising 374.71 points to 52,474.76, while Nifty50 gained 129.10 points to close at 15,799.35, during the week.
He further said, "Going ahead, we feel banking contribution would be critical to help Nifty test the next milestone of the 16,000 mark. We reiterate our bullish view and suggest continuing with the buy on dips approach."
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