HISTORICAL DAY FOR THE MARKET; NIFTY ABOVE 14850

The budget exuberance is still going on in the market and the global optimism is too providing impetus to the move. The Sensex tops 50400 Nifty above 14850 as indices trade at record high amid positive global equities. The Indian markets extended their Budget day gains into the third straight session on Wednesday and were trading over 1% up at fresh lifetime high levels in noon deals. Extending gains for third session after Union Budget 2021, Sensex was trading 695 points higher at 50478 and Nifty gained 215 points to 14860. The Sensex and Nifty hit lifetime highs of 50526 and 14868 during Wednesday's session. Sensex and Nifty earlier had hit fresh record highs of 50184 and 14753, on January 21.

This financials led rally is likely to drive Sensex towards 51000 and Nifty at 15000.Nifty look poised for 15000, with intermediate objective set at 14800. Meanwhile 14500-14400 looks to be a convenient entry point for such a move, but a fall below 14350 while less expected, should sound warning signs.