Sensex Today | Stock Market Live Updates: Sustaining above 22,800 – 22,850 levels on the upside will be key for a move back towards 23,000, where analysts believe that further short-covering could come. The Nifty Bank managed to defend 54,000 on a closing basis and that remains the key downside level for the banking index.
The bulls will take some comfort from the fact that expiry lows were protected and the index closed above the key 22,700 mark. They would want to sustain this recovery as oil prices eased overnight, even as bond yields remained at elevated levels. Supply fears easing would also bring some relief to the bulls.
Sustaining above 22,800 – 22,850 levels on the upside will be key for a move back towards 23,000, where analysts believe that further short-covering could come. The Nifty Bank managed to defend 54,000 on a closing basis and that remains the key downside level for the banking index.
A move above 54,500 will be positive for the bulls. Along with the month, the quarter also comes to an end, so we’ll see the last of the block deals for now. BSE begins trading on the Nifty 50 from today. Watch for Avalon Tech, Tata Steel, KPI Green and others.
Watch this space for all the LIVE stock market update.