Over 550 stocks hit new 52-week high on BSE; Adani Power, IOB, Tata Power top gainers

Rahul Sharma – Head, Technical and Derivatives Research, JM Financial Services is of the view that Nifty continues to remain bullish above 15,470 while the options data is suggesting 15,700 as the pain point for Call writers. We expect more upside if this level is crossed and we may see the Nifty testing the next resistance area of 15,900-16,000.