Added: Rashanna Farrish - Date: 13.08.2021 08:00 - Views: 13368 - Clicks: 3650
Indian stock markets ended higher today, led by sharp gains in financial stocks as a lower-than-expected rise in June inflation eased concerns over policy tightening by the central bank. The blue-chip NSE Nifty 50 index ended 0. Data released on Monday showed retail inflation less than expected in June at 6. The benchmark year bond yield closed down 2 basis points at 6.
Deepak Jasani, Head of Retail Research, said positive advance decline ratio also gives bullish als. Global markets were steady today ahead of release of key US inflation data and second-quarter earnings reports from some of America's biggest banks. Treasuries and the dollar were steady. On a daily basis, 10 and 20 days SMA offered ificant support to the short term trend of the market that would act as the final stop loss for holding any long positions," said Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities. Keep a strategy of buying on dips," he added.
Commenting on today's market performance, Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said, "Intraday dip of mid part was absorbed and gradual upside continued till the end of the session. Nifty closed near the highs and the opening upside gap remains partially filled.
The crucial intraday resistance of has been broken on the upside and the Nifty closed just above it, as per day's close. This is positive indication and al more upside in the short term. Nifty, he added, is "expected to revisit key overhead resistance of levels of larger high low range in the next sessions. In the last one month, the market has tested this hurdle for the three occasions and slipped into minor weakness from the highs in all the occasions. Technically, such repeated hitting of the hurdle and minor decline from the highs could eventually result in a sharp upside breakout of the resistance.
The emergence of strength at the hurdle could only open a sharp upside breakout of the resistance in the short term. Immediate support is placed at levels," said Nagaraj Shetti. Never miss a story! Stay connected and informed with Mint. Download our App Now!! It'll just take a moment. Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image. You are now subscribed to our newsletters. Key levels, factors to watch tomorrow. Premium China to walk a fine economic line after posting second-quarter growth. Premium How is the economy doing?
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