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Sensex and Nifty extend winning streak as crude oil eases
India VIX fell 3.3% to 11.75, while Nifty closed above its 200-day EMA, signaling a positive long term trend confirmation.
Indian stock benchmark indices, the Sensex and the Nifty 50, extended their winning streak to a third straight session on Friday, July 31, supported by mixed global cues and easing crude oil prices, according to LiveMint Markets.
The Sensex rose 166 points, or 0.2%, to close at 78,094.64, while the Nifty 50 gained 66 points, or 0.3%, to settle at 24,383.60. Nifty also marked its sixth consecutive session higher, maintained buying momentum throughout the day, and traded in a narrow but positive range.
LiveMint Markets reports that the Nifty ended with the index closing above the 200 EMA on the daily timeframe, indicating positive long term trend confirmation. Sector wise, Media, Auto, and Financial Services led gains, while IT, FMCG, and Consumer Durables lagged.
Sumeet Bagadia, Executive Director at Choice Broking, said the RSI improved to 59.21 without reaching overbought levels. He also cited India VIX dropping 3.3% to 11.75 and PCR at 1.14, with 24,200 to 24,250 flagged as immediate support and 24,500 to 24,550 as key resistance, while Bank Nifty finished up 0.2% at 57,264.85.
Latest closeWTI crude $86.80 ▲3.8%|VIX 15.99 ▼6.4%|Sensex 77,928.15 ▲0.3%