Unstoppable bull run! Sensex scales Mt 75K, Nifty above 22,750 for first time

's breadth remained skewed in favour of the bulls with 35 stocks trading in the green around 9:20 am with 15 in the red. Top gainers were , , , and while the top losers were Divi's Laboratories, , , and .

Expert Take
The trading week has begun positively for the bulls with the benchmark index opening trading higher, Sameet Chavan, Head Research, Technical and Derivative - Angel One said. From a technical standpoint, the recent strong performance, surpassing the March swing high, has completed a bullish 'Saucer' continuation pattern, he said.

On a larger scale, prices have been trading in a 'Rising Channel' pattern for over three months, now nearing the upper end of this pattern, which typically acts as a strong resistance zone, Chavan said, placing the supply zone around 22,750 - 22,800.

He sees correction either in terms of price or time, in the near future and advised traders to exercise caution with aggressive long positions at higher levels and consider profit-taking strategies. Immediate support is seen at 22,500 - 22,450.

Stocks in Focus
Several stocks were in focus in the initial trade, including Infosys, and .

Shares of Infosys jumped over 2% and it was the top Nifty gainer after Bank of America upgraded the stock to buy from neutral. Meanwhile, Axis Bank was flat after Bain Capital likely sold 1.1% stake in the private lender via block deal.

As for Gland Pharma, the stock was down by over 5% on news of two entities – Nicomac Machinery and RP Advisory Services likely selling up to 4.4% stake via block deals.

Global Markets
Handover from the US markets was lackluster with two major headline indices on the Wall Street ending lower on Monday. While Dow 30 ended at 38,892.80, down by 11.24 or 0.03%, S&P 500 settled at 5,202.39, lower by 1.95 points or 0.04%. Meanwhile, Nasdaq Composite gained by over 5.44 points or 0.03% to end at 16,254 on Monday.

Barring China's Shanghai Composite, most major Asian indices were trading with a positive bias. It was down by 0.15% around 9:45 India time. Japan's Nikkei 225, Hong Kong's Hang Seng index and Singapore's FTSE Straits Times Index gained 0.60%, 0.50% and 0.82%, respectively around this time.

Crude Impact
Crude oil prices were trading higher on Tuesday with US WTI oil contracts trading at $86.640, up by $0.210 or 0.240% while Brent oil futures were hovering near $90.660, down by $0.280 or 0.310%.

FII/DII Tracker
The domestic institutional investors (DIIs) were net buyers of Rs 3,470.54 crore while foreign institutional sold Indian equities worth Rs 684.68 crore on Monday.