Mumbai, 10 February. Amid mixed signals from the global market, major benchmarks of the Indian stock market opened in the green on Tuesday, the second trading day of the week. During this period, Sensex opened at 84,210 with a rise of 144.25 points from its previous close (84,065.75), while Nifty opened at 25,922.65 with an increase of 55.35 points from its previous close (25,867.30).

Till the time of writing the news (around 9.22 am), the 30-share BSE Sensex was trading at 84,203.42 with a rise of 137.67 points or 0.16 percent, while the NSE Nifty was trading at 25,904.95 with a rise of 37.65 points or 0.15 percent. During this period, except Nifty FMCG and Nifty IT, most of the Nifty indices were trading in the green. Talking about the broader market, the Nifty Midcap index registered a rise of 0.21 per cent while the Nifty Smallcap index registered a rise of 0.49 per cent. Sector-wise, the Nifty Pharma index rose by 0.46 per cent, while the Nifty IT and Nifty PSU Bank indices registered a decline of 0.2 per cent.

In the Sensex pack, shares of Eternal, Titan, Axis Bank, Tata Steel, TCS, Sun Pharma and Power Grid were among the top gainers. While shares of Bajaj Finance, Asian Paints, Indigo, HCL Tech, HDFC Bank and SBI recorded the biggest decline. Akash Shah, Technical Research Analyst, Choice Broking, said benchmark indices continued their recovery in the previous session, with Nifty50 closing above 25,850, while Sensex gained nearly 500 points.

Experts said that from a technical point of view, Nifty has maintained itself above the important moving average and its strength has increased by staying above the range of 25,700-25,800. The next resistance for Nifty is near 26,000, after this the level of 26,100 will be important. If Nifty gives a decisive breakout above 26,000, short covering may increase and the current rally may continue further. On the downside, 25,700 is the first important support, after which 25,500 level will be seen.

Overall, the market structure remains positive and the market is likely to trade in a positive but limited range, in which the bullish trend may continue. Investors can focus on Banking, PSU, Metals and select stocks based on results and sector news. However, with Nifty approaching the crucial resistance of 26,000, it is advised to trade with caution and strict risk management.