Sensex soars 200 pts, Nifty Marches Towards 8700

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The market continued its uptrend that started in late trade yesterday. 

Broadbased buying helped the Sensex cross 28000 level and the Nifty move towards 8700-mark. 

"Sideways range has formed support at 8,547-8,565 and resistance at 8,747.8,760," Laurence Balanco of CLSA says, adding a break below the lower boundary of the cited range would open the door for a move down to the 50-day moving average and lower boundary of the cited uptrend channel, currently at 8,238-8,460.


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