India’s headline indices ended their two sessions on Thursday from the lower part of the day with a minor advantage. Recovery was led by Index Heavyweight HDFC Bank with strong support from IT shares,
Commenting on the day’s action, Rupak De, Senior Technical Analyst of LKP Securities, Rupak De said that the Nifty looked at a roller-coaster session between 24,350 and 24,650 oscillations, although it fell below 24,400 in briefly, it did not remain at low levels and recovered from the second half, it was closed to 24,600. “In short -term, the index may recover; however, immediate resistance is seen at 24,660. A decisive step above this level can lead the index to 24,850. On the negative side, the support is placed at 24,400 on the closing or constant basis,” D. said.
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