Markets end the week on record highs

IT stocks like Infosys, TCS, Tech Mahindra, Mindtree and HCL Tech were among the top outperformers, witnessing an addition of fresh long positions during the week.

Sep 24, 2021 04:09 IST India Infoline News Service

Domestic markets continued to remain on a hot streak with the benchmark index closing the week on a record high.  The index Option gamma writers ran for a cover as the Nifty index broke out from a narrow trading band.

The Nifty index outperformed the Bank Nifty index by ~1.5% as it witnessed an addition of fresh long positions during the week. On the daily charts, the Nifty index has given a consolidation breakout, indicating a possibility of continued upward momentum.

IT stocks like Infosys, TCS, Tech Mahindra, Mindtree and HCL Tech were among the top outperformers, witnessing an addition of fresh long positions during the week.

FIIs index futures long/short for the September hovered around 1.5x level, in the favour of the bulls.

On the options front (September 30, 2021 expiry), Nifty 17500PE strike price has witnessed fresh writing, hinting a formation of a floor level for the index around the mentioned strikes in the coming days.

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