Indian stock markets are anticipated to resume trading on a higher note on February 10 with the support of positive global markets. As for the stock market trends, a look into the early market trends based on Gift Nifty reveals an impressive opening for the day, trading closer to the level of 25,990 with a gain of over 75 points over the previous close.
On Monday, the benchmark indices closed in the green zone. The Sensex gained 485 points to close at 84,065. On the other hand, the broader Nifty 50 index climbed by 174 points to close above the 25,850 level.
Experts opine that the benchmark Sensex has now broken through the critical level of 84,000 with the help of gains in finance and industrial shares. The immediate support would be at 83,500-83,700, while a breakout past 84,400 is likely to launch the rally.
For Nifty 50, experts remain optimistic as the trend remains strong, holding above 25,800. Technical levels suggest that the overall broader trend remains bullish, with the levels of achieving 26,000, 26,350, while additional support is seen trending towards 25,700. For Nifty 50, traders are recommended to adopt a strategy of buying on dips.
