"The market signal is that Wednesdays sharp correction was a one-day event and not a reversal of the uptrend. This confirms the success of the buy-on-dips strategy, which has played out consistently in the ongoing rally. The global cues continue to be favourable with the dollar index below 102 and the US 10-year bond yield hovering around 3.9%," said Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The 52-week high holds significant importance as a technical indicator for traders and investors, indicating a stock s highest price over the preceding year.
Nikhil Bhatt | Research Analyst - Indian markets are in a sweet spot, boosted by the return of foreign inflows, strong macroeconomic data and easing US rate outlook, among other factors, , indian stocks, nifty, sensex, fmcg stocks, realty stocks, metal stocks