Nifty opens at fresh record high of 9,220; Sensex gains over 150 points

The benchmark Nifty50 on Monday hit its fresh record high after Finance Minister Arun Jaitley pegged India's GDP growth at 7.7% in 2018, and sounded hopeful that the goods and services tax (GST) will get implemented by 1 July. The index gained as much as 47 points to 9220, surpassing its previous record high of 9,118 hit on March 17.  

Commodity Trading Tips

At 09:17 am, the S&P BSE Sensex was trading at 29,741, up 122 points, while the broader Nifty50 was ruling at 9,202, up 22 points. In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.4% and 0.6%, respectively to touch their fresh lifetime highs."Push into 9,200/39 region is expected, but may not immediately call for directional upsides. A turn lower from this region is favoured, but they are less expected to evolve into major falls. In all, choppiness is the favoured view, but extended period of consolidation augurs well for the next leg up, aiming 9,350-9,500. For this construct, downside risks start on break of 9,070," said Anand James, Chief Market Strategist at Geojit Financial Services.  Nifty Trading Tips