The index, which has been outperforming the benchmark index Nifty, surpassed the levels of 40,000 and formed a sizable bullish candle. Moreover, all components of the index ended in the green. Analysts see Nifty Bank having support at 39,000 levels and resistance at 40,700 levels. Momentum oscillators are in the strong buy zone and the index is trading above 8 out of 8 SMAs.
Shapoorji Pallonji Group’s flagship firm, Afcons Infrastructure, files DRHP to raise Rs 7,000 crore via IPO
According to the draft papers, the IPO, with a face value of Rs 10 per equity share, is a mix of fresh issue of shares