Pre-market action: Here's the trade setup for today's session
«The index rebound signals a determined effort by bulls to reclaim lost ground, with a decisive break above the critical resistance at the 200 DEMA i.e. 23,620 in Nifty potentially strengthening their position further. The next target range stands at 23,900–24,200,» said Ajit Mishra – SVP, Research, Religare Broking.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: However, a decisive upside breakout of 23,500-23,600 levels could open more upside ahead. Immediate support is placed at 23,200 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.3% to settle at 14.02 levels.
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