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Sensex soars 200 pts, Nifty marches towards 8700; banks, auto up

Equity Tips

Equity benchmarks remained strong with the Sensex rising 204.41 points to 28107.07 and the Nifty climbing 62.65 points to 8670.10.

The market continued its uptrend that started in late trade yesterday. Broadbased buying helped the Sensex cross 28000 level and the Nifty move towards 8700-mark.

HDFC Bank, ICICI Bank, Maruti Suzuki, Axis Bank, Sun Pharma, SBI, Hero Motocorp and Bajaj Auto gained 1-2.5 percent while Bharti Airtel fell further.

"Once this corrective period runs its course, the Nifty should be set-up for gains towards next chart resistance at 8,667-8,723 provided by the July/October 2015 highs and then the all-time highs at 9,191,"

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