The NSE Nifty 50 gained 0.76% to close at 24,801, while the S&P BSE Sensex rose 0.78% to settle at 81,343.
Here's how analysts the market pulse:
«Nifty remained volatile during the session, engulfing Tuesday's Doji pattern. The trend and momentum remain positive, with the index staying above critical short-term moving averages and a positive crossover in the daily RSI. In the short term, the trend is likely to remain positive as long as the index stays above 24,500. On the higher end, the current trend might take the index towards 25,000 in the near term,» said Rupak De, Senior Technical Analyst, LKP Securities
Shrikant Chouhan, Head of Equity Research, Kotak Securities, said, «For the trend following traders now, 24,700/81,000 would act as a sacrosanct support zone. Above 24,700/81,000, the market could continue the positive momentum till 24,900-24,950/81,600-81,800. On the flip side, below 24,700/81,000 traders may prefer to exit out from the trading long positions. Below which it could retest the level of 24,500-24,475/80,400-80,300.»
That said, here’s a look at what some key indicators are suggesting for Friday's action:
US market
The Nasdaq and the S&P 500 bounced back on Thursday, boosted by a recovery in megacaps, as an upbeat forecast from Taiwan Semiconductor Manufacturing lifted chip stocks after a sharp sell-off in the previous session.
U.S.-listed shares of TSMC jumped 2.1% after the world's largest contract chipmaker raised its full-year revenue forecast on surging demand for AI chips.
Apple