Benchmark indices Sensex and Nifty extended gains for a second consecutive session on Friday. Continued strength in IT stocks, which rose for a fourth straight session, along with buying in auto, metal and PSU banking stocks, supported the rally.
Looking ahead, the 22,800–22,750 zone remains a crucial support. As long as Nifty sustains above 22,750, the recovery is likely to extend. On the upside, 23,400–23,450 remains the immediate resistance zone, a decisive breakout above which could propel the index towards 23,650, coinciding with its 100-day EMA.
