A fantastic recovery led by metals with a host of stocks in the Indian markets from sugar to rice to tea and coffee kept the screen lively in a highly volatile trading session. Market recovered from the early losses and ended on flat note in the highly volatile market on 3 may 2021 At close, the Sensex was down 63 points at 48718. Index opened a day with a strong gap down but managed to recover all day loses in the second half and closed a day at 14,634 with minimal loss & formed a bullish candle on daily chart.
The overall structure still looks cautious until trading below 14700 zones.
On the higher side, index has stiff hurdle at 14750 -14825 zone, profit booking
is suggested around said levels. Fresh breakout will be only above 14850 zone
and good supports are placed at 14550 -14500 zone.
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Resistance: 14800, 15000
Support: 14600, 14400
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