SENSEX SHOOTS UP 765 PTS AS US FED STAYS DOVISH

NIFTY GAINS 200 PTS TO CLOSE OVER 16900 LEVEL; INVESTORS GAIN RS 3.56 LAKH CR

Benchmark Indices closed on a positive note and ended at record highs with Nifty 50 closing 1.35 per cent up and Sensex closing with 1.36 per cent gains on Monday.

Dovish commentary from US Federal Reserve chairman in Jackson Hole Symposium lifted investors' sentiments globally After touching a lifetime high of 56,958.27 during the day, the 30share BSE Sensex ended 765.04 points or 1.36 per cent higher at its new closing peak of 56,889.76, extending its winning run for the third session.

The broader NSE Nifty advanced for the sixth consecutive day, surging 225.85 points or 1.35 per cent to its record closing of 16,931.05. It touched an all-time intra-day high of 16,951.50.

Gaurav Udani, CEO & Founder, ThincRedBlu Securities, said, "Nifty made a strong bullish bar today closing at its all time high level. The rally was also supported by Banknifty. Nifty may face a psychological resistance at 17,000 and 17,050 levels. It has strong support around 16,750 levels. Nifty is in a strong bullish trend and all dips can be used for buying with strict stop loss."

Sachin Gupta, AVP Reserach, Choice Broking said, "On the daily chart, the Nifty50 index has breached the prior resistance of 16,700 and moved towards the new milestone of 17,000-mark. Moreover, the index has also closed above the upper band of the Bollinger formation, which suggests a bullish presence in the counter. The index has been trading above all the important key indicators, which adds positive strength further. At present, the nifty index has immediate support at 16,700 levels while resistance may come around 17,000 levels."