"At this moment all one can say is liquidity is driving the markets. And what is creating the liquidity surge? It is the expectation over the elections results, no tapering in the Fed's bond buying programme and finally the expectation that interest rates may have peaked," said Milan Bavishi, Head Research, Inventure Growth and Securities.
The zone of 6,300-6,400 can act as resistance for Nifty. However, as of now there are no signs of weakness in the markets, so the broader trend remains up, Bavishi added.
Market experts said that the US Federal Reserve's decision to continue with its bond-buying stimulus programme for now has eased concerns about foreign funds pulling out capital from emerging markets.
Overseas investors have been net buyers for the 21st straight session, purchasing Rs 2,062.82 crore of shares, as of Friday (November 1), according to provisional data from the stock exchanges.
Stock markets are closed today for 'Balipratipada'. It would resume regular trading tomorrow.
Besides, investors would also eye the next batch of quarterly earnings from blue-chips like Bharat Heavy Electricals, Tata Motors and Punjab National Bank.
Meanwhile, for the week ended October 25-November 3, the BSE benchmark Sensex rose by 2.68 per cent or 555.84 points.
Stock exchanges were open for a 75-minute special trading session yesterday.
The first trading session of Samvat 2070 year ended on a positive note yesterday with the BSE Sensex and the NSE Nifty settling at new all-time closing high of 21,239.36 and 6,317.35, respectively.
The Sensex had gained 8.44 per cent last month.