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On February 6, Indian benchmark indices rebounded from previous losses, closing higher with Nifty surpassing 21,900. The Sensex gained 454 points reaching 72186, while the Nifty rose by 157 points, closing at 21929. Despite a shaky start and overnight weakness in US stocks and mixed Asian indices, local investors stepped in to buy, particularly in IT, auto, metals, and oil & gas sectors. The day saw a predominantly sideways movement in the Nifty, reflecting trader uncertainty. Market participants anticipate continued range-bound trading until a breakout occurs. A decisive upward move beyond 22000 could push the Nifty towards 22250, while a decline below 21800 may trigger a correction towards 21500.
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