SENSEX & NIFTY HIT Target of 24500/7450 ,Heading Towards Final Mark of 25000/7600

Bumper rally continued for third consecutive session Thursday, taking the Nifty to one-month closing high on value buying post Union Budget. Today's rally could be on the back of hopes of NDA government getting some important bills (like GST) passed in parliament. Finally Sensex ended with a gain of 364 points at 24,607. The  Sensex opened at 24,387 touched an intra-day high of 24,641 and low of 24,383.The Nifty closed with a gain of 107 points at 7,476. The  Nifty opened at 7,430 hitting a high of 7,484 and low of 7,406.  After breaking past the 1-month supply zone of 7225-7250 on Wednesday, today's rally lifted the Nifty above its mid-point resistance of 7397 and also the 50DMA further strengthening the current upswing. Going ahead, we see Nifty attempting its immediate previous peak of 7600.”

                              It is turning out to be one of the best weeks of the calendar year as the  Sensex  allowed over 1600 points while the  Nifty clocked in approximately 488 points gain post the Union Budget. The buying spree was so fierce that the NSE Nifty ended at 1-month closing high. Hopes of an early interest rate reduction announcement by the RBI and strengthening Indian currency against the US Dollar were among the major factors for today's run-up. The sentiment also remained upbeat after the International Monetary Fund projected a robust growth rate of 7.3 per cent for the country this financial year, and moving up to 7.5 per cent next year.