stock market
On the first trading day of the week, greenery is being seen all around in the Indian stock market. A major international decision of US President Donald Trump has made the domestic stock market a rocket. As soon as the market opened on Monday, the Bombay Stock Exchange (BSE) Sensex opened with a huge gain of about 1200 points. At the same time, Nifty of National Stock Exchange (NSE) also did not lag behind. A strong jump of about 1.53 percent or 361 points was recorded in Nifty, due to which it crossed the level of 23,950.
Agreement reached between America and Iran
Behind this historic rise in the Indian stock market is a big global news that came on Sunday. US President Donald Trump made a big announcement saying that the peace agreement with Iran has now reached its final form. This statement of Trump has raised a new hope of security in the international markets. This news of the end of the long-running geopolitical tension has greatly strengthened the confidence of investors around the world. The direct effect of this was seen at the opening of the Indian stock market on Monday morning, where all-round buying was seen.
Which stocks are in movement?
Among the top gainers in today’s business, Shriram Finance, InterGlobe Aviation (IndiGo), Bajaj Finance, L&T and TMPV are at the forefront. On the other hand, even in this bullish market, shares of companies like ONGC, Cipla and Apollo Hospitals are registering a decline.
Signs of further bullishness in the market
According to Akash Shah, Technical Research Analyst of Choice Equity Broking, from a technical point of view, the bullish signals (momentum) in the Indian stock market are quite strong at present. At the same time, RSI (Relative Strength Index) has increased to 51.25 and ‘bullish crossover’ is visible in it. This simply means that after several days of sluggishness, new buying momentum is returning to the market. MACD is also very close to positive crossover. At the same time, the ‘negative histogram bars’ showing selling pressure are continuously getting smaller, which indicates that the impact of recession (bears) on the market is now decreasing.
Important level for Nifty, where is the support and resistance?
According to Akash Shah, these levels will be very important in deciding the way forward for Nifty. The first resistance level for Nifty is at 23,800. After this the range of 24,000 to 24,200 is most important. If Nifty is successful in staying above this level, then a new phase of bullishness can begin in the market. If there is any decline in the market, then there will be immediate support on the downside at 23,500. After this, a very strong support zone remains around 23,300.
Rupee strengthened against dollar
Along with the stock market, the Indian currency i.e. Rupee also strengthened today. On Monday, the rupee opened with gains at 94.68 against the US dollar, whereas on the previous trading day i.e. Friday it had closed at 95.11.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsh advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
