Volatility in Indian markets is expected to intensify, peaking by the last trading day before the announcement of exit polls. Also, a downturn in the global market could dampen the enthusiasm in Indian markets
The Indian markets rebounded midweek, closing with a 2.03% gain as global markets strengthened. We will likely see the market rising higher and expanding in the forthcoming trading sessions
The nifty has a crucial support of the 50 DMA level of 22,300 and a decisive close below the 22,300 level the nifty can slide further to the 22,000 and 21,800 levels.
The momentum in the Indian markets was fuelled by reports of record GST collections in April. Furthermore, global markets provided support largely driven by strong performance in the US market
So far today. on the BSE, out of 3.838 stocks, 422 rose, 3.340 fell, and 76 remained unchanged. Today s ratio stands at 0.13, compared to 0.28 on March 12 and 0.39 on March 11. In March, only four days recorded a ratio above 1, with the remaining days trading below 1.