Indian markets closed in the green today with a smart recovery from the early fall. Nifty closed above 15,700 today. While the Sensex saw a recovery of more than 800 points from the lower levels.
Today, Indian markets saw a strong recovery due to signals from Asian and European markets. US stock futures turned strong today. On the domestic front, on the vaccination front, after the government’s announcement to provide free vaccine to every person above 18 years, there is hope for a fast recovery of the economy.
Vinod Nair of Geojit Financial Says that due to the hawkish monetary policy of the US Fed, the domestic market opened with weakness today, but due to the statement of free vaccination of all citizens of the PM and the expectation of a sharp recovery in the economy, the market recovered from the low level of the day. Closed in green mark.
Know what will be the strategy in the market tomorrow
Ashish Biswas of CapitalVia Global Research Says that Nifty can be seen further in the range of 15500-15900. It will be very important for Nifty to stay above 15500 in the short term. Since technical indicators are supporting the bullish trend, investors should buy intraday correction in short term and exit after booking profit around 15900.
Momentum indicators like RSI and MACD are also pointing towards a positive divergence which is an indication that the recovery in the market may continue and Nifty may once again touch the 15900 level.
Chandan Tapadiya of Motilal Oswal Financial Services Says that Nifty has to stay above 15700 to move towards 15900-16000. On the downside for Nifty, support is seen at 15,600 and 15,550 levels.
Gaurav Bissa of LKP Securities Says that this is the second time in a row that Nifty has made a strong comeback, which is a sign of strength in the market. However, on an overly basis, Nifty is in a position to close closer to Ichimoku cloud support. For Nifty to touch the level of 16000, it will have to give an OVERALLY closing above 15,780-15,800.
Gaurav Ratnaparkhi of Sharekhan Lets say that Nifty is moving towards the upper end of its short term range, which is located at 15900. The overall outlook of the market is positive. Nifty may soon cross 16,000 level. From short term point of view, buying strategy on downside would be the best strategy.
FYERS Abhishek Chinchalkar Says that Nifty has shown strong intraday recovery for the second consecutive day. The index seems to have found support near its previous record high of 15,431. Now resistance is seen around 15,700 for Nifty. For Nifty to move up, it has to stay above this level for at least 3 trading sessions.
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