Sensex formed a long bearish candle on daily charts, and is currently trading below the 200-day SMA (Simple Moving Average), which is largely negative.
Alternatively, direct rise above 25,000 could call for 25,800.
Sensex formed a long bearish candle on daily charts, and is currently trading below the 200-day SMA (Simple Moving Average), which is largely negative.
“We are of the view that the short-term market texture is volatile, and volatility is likely to continue in the near future,” Shrikant Chouhan, Head Equity Research, Kotak Securities, said. “Hence, level-based trading would be the ideal strategy for day traders.”
GIFT Nifty futures were trading at 24,869.5 points as of 8:00 am, indicating that the benchmark Nifty 50 index will open near Sunday’s close of 24,825.45 points.