Nifty soars, but thrill is missing

TECHNICAL ANALYSIS

- VK SHARMA

THE MARKETS CLIMBED the wall of worries and scaled fresh all-time highs last week, as anticipated earlier.

The Nifty hit a new intraday peak of 26,310 on Thursday, surpassing the previous high of 26,277 set on September 27, 2024 some 14 months ago. The index closed the week 0.52% higher at 26,202, marking its third consecutive weekly gain.

Adding to the cheer, India's real GDP growth data released on Friday after market hours came in at a robust 8.2% for Q2, beating both Q1's 7.8% and market expectations of 7.4%. The numbers reaffirm India's position as the world's fastest-growing major economy and further buoyed sentiment in large caps.