The Nifty futures closed positively at 14,495 with a gain of 0.86%. The index saw Tata Motors NSE 11.36%, HCL Tech, Infosys, Wipro NSE 3.86%, HDFC, Lupine, Tata Consumer, Ashok Leyland, Maruti, Bajaj Auto, TechM, MRF, Cipla, Colgate Palmolive, McDowell and Positive Trade. Biocon NSE 1.20% but weaker in Shriram Transport, Indiabulls Housing Finance NSE-2.80%, RBL Bank, M&M Finance, Bajaj Finance, RIL, PNB, Kotak Bank, Canara Bank and Indigo.
On Monday, the Nifty opened higher and opened higher with a positive global signal with a margin of over 100 points. The first half of the day saw a slight drop, but it soon reached a lifetime high near the 14,500 level. The index finally settled the day with a decent gain of around 140 points.
It produced a rapid candle on a daily scale with a long lower shadow, showing that the dips are being bought quickly and the bulls are in full action. It remained at a high level for the 13th trading session. It now has major support at the 14,200 and 14,100 levels to see a new Move from the 14,600 and 14,750 levels.
The bank nifty opened with Nifty gains, but could not maintain a high level and remained quite choppy with some sales pressure for most of the session. It went into a boundary and closed with a loss of almost 100 points. The index created a bearish candle on the daily scale and rejected the highs of the previous four sessions. Now, it will have to be above the 31,750 level to bounce up to the 32,500 and 32,613 levels, while on the downside, support is present at the 31,500 and 31,200 levels.
Shares of Tata Motors shocked everyone on the Street as it rose nearly 13 per cent on Monday to hit a 52-week high with the upper circuit, amid heavy volume trading. Due to which the market gained momentum, Tesla had planned to sign an MoU with Tata Motors and sell and sell its vehicles with Tata Motors. The rumours also said that Tesla had already done due diligence and found that Tata had the best EV Infra among all autos. There has been no official communication on this and hence, the rumour cannot be confirmed.
Tata Motors shares rose 12.64 per cent to Rs 223.20 on the NSE. It rose 11.11 per cent to Rs 220.10 on the BSE. From its bottom in March, the company’s shares have risen by more than 250 per cent to more than three times the wealth of investors.