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In anticipation of a broader market rally, three stocks have formed a strong setup on the charts for further rally, giving a good risk-reward ratio.
The S&P BSE Sensex gained 0.26 per cent to 66,882.35 at around 9:16 am, while the NSE Nifty 50 was up 30 per cent at 19,836.50.
Investors typically prefer stable markets in times of high market uncertainty. Further, consistent depreciation of the rupee as well as depleting Indian foreign exchange reserves too had a bearing on the weak market sentiments. India's forex reserves in the past six-to-seven months have declined by over USD 40 billion. Good News! Foreign Portfolio Investors Return To Indian Equity Market With Rs 4,989 Crore After 9 Months.