Introduction:

Market experts V K Vijayakumar and Vaishali Parekh provide insights into Nifty's performance, highlighting the market's resilience amidst external concerns and the role of domestic buying in sustaining the rally. While acknowledging the positive contribution of large private banks, caution is advised against irrational exuberance in certain market segments.

Expert Analysis:

1. V K Vijayakumar's Perspective:

   • Nifty exhibits strength with seven days of record intraday highs, largely unaffected by rising US bond yields.
   • Resilient domestic buying, aided by sustained DII (Domestic Institutional Investor) activity and retail enthusiasm, provides crucial support to the market rally.
   • The strong performance of the economy and improving corporate earnings serve as solid fundamental pillars for the market.

2. Vaishali Parekh's Technical Analysis:

   • Nifty surges to new highs above the 22200 zone, indicating further upside potential.
   • Near-term target for Nifty is projected at 22400 levels, with potential for further gains to 22800 levels.
   • Technical support is observed at 22000, while resistance is identified at 22350.

Market Snapshot:

• BSE Sensex trades at 73,069.64 points, showing a marginal increase.
• Metal stocks, including JSW Steel and Tata Steel, witness gains of around 2%.

Conclusion:

Nifty's record intraday highs underscore its resilience amidst global concerns, with domestic buying acting as a key driver of the ongoing rally. While large private banks contribute positively, caution is advised against irrational exuberance in certain market segments. Technical analysis suggests further upside for Nifty, with near-term targets at 22400 and 22800 levels. These insights offer valuable perspectives for investors navigating the current market environment.