Sensex Today | Stock Market LIVE Updates: The Nifty began the new week and month on a positive note, reversing some of last week’s losses. The index closed above the mark of 24,600, despite the banking index underperforming,, and the bulls will now be eyeing a reclaim of the 20-DMA level on the upside. Broader markets also began the week on an optimistic note.
The Nifty began the new week and month on a positive note, reversing some of last week’s losses. The index closed above the mark of 24,600, despite the banking index underperforming, and the bulls will now be eyeing a reclaim of the 20-DMA level on the upside. Broader markets also began the week on an optimistic note.
Global cues from overnight are missing, as the US markets were away for the Labour Day weekend. But do keep an eye on both gold and silver prices, with the former nearing a record and the latter reaching the highest level since 2011 in the global markets. Despite the strong start, most analysts still term the move to be a technical bounce from oversold levels and not a proper reversal, expecting this upmove to fizzle out between the 24,800 – 25,000 mark.
Thursday’s high of 24,702 becomes the first level on the upside for the Nifty, while Monday’s low of 24,432 is an important support. Keep an eye on the beaten-down names such as Ola Electric and MobiKwik, which surged on Monday.
Watch this space for all the Live updates.