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Nifty opened positive on Thursday and after a slight dip in the initial hours, took support near the 14,700 mark. The index witnessed a strong move in the second half of the session and headed towards the 14,883 level. It has been forming higher lows since last four sessions and managed to cross the recent swing high, which bodes well for the bulls.
The index settled the day with a gain of around 170 points and formed a bullish candle with a long lower shadow, which signalled buying on declines. Now, it has to hold above 14,800 level to witness a bounce towards 15,000 and 15,100 levels, while on the downside support exists at 14,700 and 14,600 levels.
Titan, Asian Paints and Ultratech Cements gained around 2 per cent each on the BSE
The domestic stock markets have opened firm, after correcting for two straight sessions, on the back of conducive global cues. As of 9:17 am, the Sensex is at 50,653.15, higher by 229.55 points or 0.45 per cent and the Nifty is at 15,000.15, up 59.85 points or 0.45 per cent. The BSE Midcap and BSE Smallcap indices are trading higher by 0.6 per cent each at 20,553.50 and 21,221.95 respectively. All the BSE sectoral indices are trading in the green, with the exception of the metal space.
The S&P 500 and Dow Jones Industrial Average closed at a record high on Monday as investors eyed an economic recovery from the coronavirus impact and awaited cues from the Federal Reserve this week amid caution over rising borrowing costs.
Mumbai (Maharashtra) [India], March 16 (ANI): Equity benchmark indices traded in the green with thin margins during early hours on Tuesday in line with positive cues from global markets.
Mumbai (Maharashtra) [India], March 8 (ANI): Equity benchmark indices erased early intra-day gains and ended marginally higher on Monday with Nifty PSU bank up by 1.6 per cent.
Sensex fell 440 points and the ended below the key 15,000-level on Friday amid weak global cues. While Sensex lost 440 points to 50,405, Nifty ended 142 points lower at 14,938. Intra-day, the index swung around 726 points.