There can be further upside up to 11080 and 11250 level
With a close above the prior top and trending with the rising channel, Index likely to continue with a bullish bias. Immediate resistance comes around 11030.
Praj Industries, Coromandel and Larsen and Toubro (L&T) stock likely to trade with positive bias.
Energy sector can face selling pressure, whereas Infra sector can trade with a bullish view.
There can be further upside up to 11080 and 11250 level. The first sign of weakness for midterm will arise when index moves below 10820 level.
It was a contribution from almost every sector except IT. Infra and banking stocks took the front seat. Nifty mid cap and small cap also performed well.
Kapil Shah, technical analyst, Emkay Global