Both the Sensex and Nifty indices opened in the green on Tuesday, setting the tone for a successful trading day.
This positive sentiment was reflected as the Sensex opened 88.42 points up at 65,088.36, while the Nifty began 32.40 points higher at 19,334.40.
Among the Nifty firms, 36 registered advances, while 15 faced declines during the initial trading session.
Notable gainers included UPL, Hero Moto Corp, Power Grid, Cipla, and Tata Motors, demonstrating robust performance.
Jio Financial Services, Reliance, Apollo Hospitals, Dr. Reddy, and Adani Ports, on the other hand, reported losses. Profit Idea’s founder and managing director, Varun Aggarwal, shared his insights on the market’s dynamics. He stated, “Stocks in the Media, IT, and Reality sectors have shown good strength in this Nifty consolidation phase over the past few days. Selected stocks from these industries may continue to drive the rally. Aggarwal emphasized that despite global worries, the market bias is still bullish and noted that the Open Interest (OI) base for the August series is still strong in the 19,200–19,000 range.
He advised traders to think about using bullish strategies on the index while closely monitoring the Nifty’s major support levels, which are located around 18,887. Low-risk ratio spreads were another option Aggarwal mentioned for traders, particularly in index, IT, media, and banking stocks.