New Delhi: The market has turned positive once again. The Nifty closing above 4210 for two consecutive days clearly signals its bullishness.
In the coming weeks, the benchmark index is expected to cross 4260 and move further up.
The most crucial level would be 4292 for the spot Nifty while 4286 would be the corresponding level of the Nifty Jun Futures; if these levels are decisively crossed then the index is likely to retest its earlier all time high of 4362 soon enough.
Once above 4362.95, its immediate target would be 4395. However, the level of 4292 is likely to offer awfully stiff resistance to overcome.
Other than technology stocks there are varying degrees of bullishness seen in various sectors. Technology sector movements are quite stock specific.
Event driven stocks like I-Flex may be moving up but hardly any sign of upswing is visible in frontline IT stocks.
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