Recently the news has come on the internet that the Indian Stock Market indices have been anticipated to open flat amid nervousness in the Asian market around the economy after Evergande’s shares were suspended from trading in Hong Kong. Since the news came on the internet and went viral on social media platforms. Now many people are searching the internet as they are very curious to know about the whole information about the news. Here we have more information about the news and we will share it with you. So let’s continue the article.
The trends on Gift Nifty also suggest a flat to favorable start for the Indian benchmark index. At 7. 50 am, the Gift Nifty had been trading at around 19,717 as compared to the Nifty futures’s previous close of 19,719.65. On Wednesday, the domestic standard indices, Sensex and Nifty 50 bounced back snapping a six-day losing streak, and settled higher on positive trends in Asian markets. The Sensex closed 173.22 points higher at 66,118.69, while the Nifty 50 earned 51.75 points to end at 19,716.45. Since the news has come on the internet and it went viral on the social media platforms. Scroll down to the next page for more information about the news.
Nifty began a long bull candle on the everyday chart with a long lower shadow.”Technically, this market action has been indicating the formation of a bullish engulfing pattern. Generally such bullish engulfing patterns after a moderate decline in near-the-support single opportunities of upside bounce in the underlying post verification,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. Following the range-bound activity in the last few sessions, the market established a false downside breakout of the range in the early part of Wednesday before witnessing a sharp intraday upside bounce. You are on the right page for more information about the news, so please read the complete article.
Here’s what to expect from Nifty and Bank Nifty today:
Nifty 50
The Nifty established a strong recovery on 27 September 2023 and found support at the 50-EMA (Exponential Moving Average). ” The day finished with the arrival of a bullish engulfing pattern. On the upper side, the opposition has been situated at 19,750. A clear breakout is critical to anticipate a substantial rally in the index. A strong move beyond 19,750 could potentially push the index towards 19,900. On the downside, he said, support is established at 19,600.
Bank Nifty
The Bank Nifty bounced back from the day’s low and ended 36 points lower at 44,588 on Tuesday. The Bank Nifty Bulls declared resilience by defending the key support level at 44,200, which overlapped with the rising trendline support. However, the index is currently trading below its 20-day moving average positioned at 45,000. A decisive break above this level could trigger significant short covering. The Bank Nifty is trading within a broad range of 44,200 to 45,000. Here we have more information about the news, so please read the complete article.